The Small and Medium Enterprises General Authority “Monsha’at” signed a memorandum of understanding with Enterprise Singapore (EnterpriseSG), on the sidelines of the Biban 2025 forum, held in Riyadh under the theme A Global Destination for Opportunities.

The memorandum aims to strengthen the global competitiveness of SMEs in both countries through mutual cooperation and the exchange of expertise and knowledge, contributing to the development of the entrepreneurship ecosystem. Monsha’at and EnterpriseSG will work to strengthen cooperation in developing models, policies, and strategies aimed at supporting startups, in addition to encouraging cross-border partnerships between entrepreneurs and enterprises, particularly in the fields of technology and innovation, to raise productivity efficiency and facilitate entry into global markets.

The memorandum of understanding was signed by Monsha’at’s Vice Governor of Entrepreneurship, Saud Alsabhan, and the Regional Director for the Middle East at Enterprise Singapore, Wu Hongyi.

This agreement comes as part of Monsha’at’s efforts to expand its international partnerships and open new horizons for Saudi SMEs, strengthening their global competitiveness through cooperation with leading international institutions in innovation and entrepreneurship such as EnterpriseSG, a Singapore government agency dedicated to developing enterprises and startups, supporting their capacity for innovation and global expansion, and connecting foreign companies with trusted partners in Singapore.