Riyadh: The Small and Medium Enterprises General Authority (Monsha’at) has entered into a Memorandum of Understanding (MoU) with Enterprise Singapore (EnterpriseSG) during the Biban Forum 2025, which was hosted in Riyadh under the theme “A Global Destination for Opportunities.” This agreement seeks to bolster the international competitiveness of small and medium enterprises (SMEs) from both nations by fostering cooperation and sharing expertise and knowledge, thereby contributing to the advancement of the entrepreneurship ecosystem.

According to Saudi Press Agency, the MoU between Monsha’at and EnterpriseSG focuses on developing models, policies, and strategies that support startups. It aims to promote cross-border partnerships between entrepreneurs and enterprises, especially in technology and innovation sectors, to enhance productivity and facilitate access to global markets.

The official signing of the memorandum was conducted by Vice Governor for Entrepreneurship at Monsha’at, Saud Al-Sabhan, and Region
al Director for the Middle East at Enterprise Singapore, Hongyi Wu.

This agreement aligns with Monsha’at’s strategy to broaden its international collaborations and create new opportunities for Saudi SMEs. By partnering with prominent global institutions in innovation and entrepreneurship such as EnterpriseSG, a Singaporean government agency committed to supporting enterprises and startups, Monsha’at aims to enhance the global competitiveness of Saudi SMEs through innovation and international expansion.