The Small and Medium Enterprises General Authority (Monsha’at) has signed a series of landmark Memorandums of Understanding (MoUs) with international partners during the Biban Forum 2025, held in Riyadh under the theme “A Global Destination for Opportunities.” The agreements, collectively valued at more than SAR22 billion (US$5.9 billion), underscore Monsha’at’s commitment to expanding global cooperation and enhancing the competitiveness of Saudi small and medium enterprises (SMEs).

In a major step towards fostering innovation and international collaboration, Monsha’at signed an MoU with Enterprise Singapore (EnterpriseSG) to strengthen ties between Saudi and Singaporean SMEs. The partnership will focus on developing joint strategies, promoting cross-border entrepreneurship, and sharing expertise to improve productivity and access to global markets. The memorandum was signed by Saud Al-Sabhan, Vice Governor for Entrepreneurship at Monsha’at, and Hongyi Wu, Regional Director for the Middle East at EnterpriseSG.

Another key agreement was reached with Business France, the French government agency for business development. The MoU aims to create capacity-building programmes, organise joint workshops, and connect Saudi and French companies with business accelerators and incubators to drive international growth. The agreement was signed by Monsha’at Governor Sami Al Hussaini and Business France Regional Managing Director Axel Baroux, marking another milestone in Monsha’at’s international expansion efforts.

Monsha’at also formalised cooperation with the Swedish Trade and Invest Council, focusing on linking Saudi firms with Swedish business incubators and developing training programmes for entrepreneurship educators. The partnership will leverage Sweden’s expertise in simulation-based entrepreneurship education. The memorandum was signed by Saud Al-Sabhan and Sweden’s Trade Commissioner Nebe Almayahi, in the presence of Swedish Ambassador Petra Menander.

In addition, Monsha’at signed an MoU with the Korea SMEs and Startups Agency (KOSME) to strengthen knowledge exchange, develop supportive SME policies, and encourage innovation and technology-driven growth. The agreement was signed by Saud Al-Sabhan and Ilho Kim, KOSME’s Vice President of Global Business Development Division.

Officials noted that these partnerships form part of Monsha’at’s broader mission to position Saudi Arabia as a global hub for entrepreneurship, aligning with Saudi Vision 2030. By collaborating with leading agencies from Singapore, France, Sweden, and South Korea, Monsha’at aims to empower Saudi entrepreneurs, stimulate innovation, and boost global competitiveness.