On its third day, Biban 23 witnessed the signing of more than 10 agreements and memoranda of understanding, as well as several launches totalling over 10.6 billion Saudi riyals (2.8 billion dollars), in support of the entrepreneurial sector and its growth and sustainability.
During the forum, the Small and Medium Enterprises (SME) Bank announced the provision of financing products for enterprises worth 10.5 billion Saudi riyals for a duration of three years. Additionally, the Saudi Export-Import Bank signed an agreement with Al Ahli Bank to provide financial solutions for non-oil exports exceeding 99.3 million riyals.
The General Authority for Small and Medium Enterprises “Monsha'at” initiated agreements and launches by signing a memorandum of understanding with Accenture Saudi Arabia Limited and another memorandum with Al Shabab Investment Club to collaborate on initiatives and projects supporting SMEs in the sports field. Monsha'at also signed an agreement with King Faisal University to provide a range of programs and projects supporting entrepreneurship and innovation. Furthermore, an agreement was reached with GoDaddy Company to enhance the capabilities of SMEs in the field of e-commerce. Additionally, a collaboration agreement was signed between Monsha'at, SEDCO Holding Group, and the Agricultural Tourism Association to provide training programs for entrepreneurs through the Monsha'at Academy platform.
Monsha'at also signed agreements with Sadara Chemical Company and Saudi Arabian Mining Company (Ma'aden) to join the "Jadeer" service, aimed at enabling and facilitating procurement opportunities for SMEs.
Memoranda of understanding were also signed with Zoho Corporation Limited and Global Digital Solutions (Neoleap) to provide financial solutions and electronic payments for retail stores and e-commerce businesses.
Furthermore, a Cybersecurity Challenge was launched in collaboration with Saudi Information Technology Company, and the development program for SMEs in the export field was announced in partnership with the Saudi Export-Import Bank and the International Islamic Trade Finance Corporation.
Moreover, Monsha'at, in collaboration with PricewaterhouseCoopers (PwC), conducted a series of training workshops on social entrepreneurship and women's entrepreneurship, providing 500 hours of free consultancy for entrepreneurs and owners of SMEs.
The Saudi Authority for Industrial Cities and Technology Zones (MODON) signed three industrial investment contracts to establish factories with investments exceeding 10 million riyals.
Biban 23, organized by Monsha'at under the slogan "Opportunities Create Entrepreneurship," is one of the key drivers of the rapid development witnessed in the SMEs and entrepreneurship sectors in the Kingdom of Saudi Arabia. It aims to enhance the Kingdom's position as a regional and international destination of choice for entrepreneurs.