Riyadh: The Small and Medium Enterprises General Authority (Monsha’at) signed a memorandum of understanding with the Swedish Trade and Invest Council during the Biban 2025 Forum, hosted at the Riyadh Front Exhibition and Conference Center from November 5 to 8. The event, themed “A Global Destination for Opportunities,” served as the backdrop for this significant agreement aimed at fostering entrepreneurship education.

According to Saudi Press Agency, the memorandum’s primary objective is to connect Saudi companies that are aiming for international expansion with Swedish business incubators and accelerators. Additionally, the agreement focuses on developing training programs for academic leaders specializing in entrepreneurship education. It also aims to draw from Sweden’s advanced experience in implementing simulation-based educational programs within entrepreneurship curricula.

The signing ceremony featured Monsha’at Vice Governor for Entrepreneurship Saud Alsabhan and Sweden’s Trade Commissioner and head of the council’s office in Saudi Arabia, Nebe Almayahi. The event was also graced by the presence of Swedish Ambassador to Saudi Arabia, Petra Menander.

This collaboration underscores Monsha’at’s dedication to adopting global models to bolster entrepreneurship and create a supportive educational environment. Such efforts are in line with Saudi Vision 2030, which aspires to cultivate a knowledge-based economy and support small and medium enterprises (SMEs).

The Biban Forum 2025 attracted significant participation from both international and local entities. The forum saw agreements and deals surpassing SAR22 billion, cementing its status as a global platform for generating opportunities and empowering entrepreneurs worldwide.