In a significant move to foster economic synergy, the Kingdom of Saudi Arabia, through its Small and Medium Enterprises General Authority, known as Monsha’at, has established a memorandum of cooperation (MoC) with the Jordan Enterprise Development Corporation (JEDCO) from the Hashemite Kingdom of Jordan.
This alliance, formalized with the signatures of Monsha’at Governor Sami Ibrahim Alhussaini and JEDCO CEO Abdel Fattah Al-Kayed at the sidelines of the Public Investment Fund (PIF) Private Sector Forum, is set to bolster the economic, trade, and investment links within the small and medium enterprise (SME) sector.
The MoC focuses on the reciprocal exchange of expertise aimed at fortifying institutional frameworks and advancing SMEs in both nations. It will facilitate business exchanges to enhance trading relationships and implement training initiatives to elevate industry competencies.
Furthermore, the agreement is poised to intensify technical and innovation collaboration, thereby augmenting productivity and market competitiveness. It also promises to stimulate promotional activities that spotlight opportunities for SMEs and to shape models, policies, and strategies that will nurture entrepreneurial endeavors across both countries.
By partnering with JEDCO, Monsha’at is committed to achieving unparalleled levels of cooperation across various sectors. This is in line with supporting entrepreneurs and SME owners in realizing the ambitious goals of Saudi Vision 2030.