Ministry of Investment inks 2 MoUs with Monsha'at, SDAIA

MoU signing ceremony

The Ministry of Investment signed two memoranda of understanding (MoU) with the Small & Medium Enterprises General Authority (Monsha'at) and the Saudi Data and Artificial Intelligence Authority (SDAIA), during the Global Entrepreneurship Conference (GEC) held in Riyadh, according to the Saudi Press Agency (SPA).

The ministry explained that the MoU concluded with Monsha'at aims to align the national strategy for small and medium enterprises (SMEs) and the national investment strategy.

In addition, it also targets compatibility with the initiatives and programs of the innovation and entrepreneurship sector.

The ministry stated that the second MoU inked with SDAIA harmonizes their strategies and objectives to enable entrepreneurship and SMEs to develop the data and artificial intelligence (AI) sector in Saudi Arabia and to find attractive investments for local and foreign investors.

The MoU with SDAIA will achieve the ambitions, objectives, and related strategies such as the National Investment Strategy (NIS) and National Strategy for Data & AI.