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 in Riyadh, which was themed “A Global Destination for Opportunities.”

According to Saudi Press Agency, the MoU is designed to enhance the global competitiveness of small and medium enterprises (SMEs) in Saudi Arabia and Singapore. This will be achieved through cooperative efforts and the sharing of expertise and knowledge, which will contribute to the development of the entrepreneurship ecosystem in both countries. The agreement emphasizes collaboration to create models, policies, and strategies that support startups while also promoting cross-border partnerships in technology and innovation. This initiative aims to boost productivity and facilitate access to global markets for entrepreneurs and enterprises in both nations.

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 Enterprise Singapore. This agreement is part of Monsha’at’s broader strategy to expand international partnerships and create new opportunities for Saudi SMEs. By collaborating with leading international institutions such as EnterpriseSG, Monsha’at seeks to enhance the global competitiveness of its SMEs through innovation and entrepreneurship. EnterpriseSG is a Singaporean government agency focused on supporting enterprises and startups, promoting innovation, and aiding global expansion.