Qiddiya and Monsha’at Sign MoUs to Support local SMEs
Qiddiya Investment Company
(QIC) and the General Authority for Small and Medium
Enterprises (Monsha’at) signed two memoranda of
understanding (MoUs). The agreements are designed to
enhance cooperation between the two entities, to provide
QIC with access to the “Jadeer” portal – a database of local
SMEs – and to develop Qiddiya as a destination that provides
an environment open to and that supports SMEs.
The MoUs were signed by Philippe Gas, CEO of QIC, and the
Governor of Monsha’at, Eng. Saleh bin Ibrahim Al-Rasheed.
Commenting on the MoUs, Philippe Gas, CEO of QIC, said:
“These two MoUs reflect our continuous effort to enhance
cooperation and strategic partnerships with local entities
involved in national transformation and in line with the
ambitions of Vision 2030. These MoUs mean that local SMEs
will be able to easily access information about the Qiddiya
project and the numerous opportunities available within QIC.
Governor of the Small and Medium Enterprises General
Authority (Monsha’at), Eng. Saleh bin Ibrahim Al-Rasheed,
said: “These MoUs highlight Monsha’at’s keenness to
enhance cooperation with the public and private sectors and
to create an environment that stimulates the growth and
prosperity of small and medium sized enterprises. It will help
to increase competitiveness and will contribute to the
development of local entities by boosting and developing the
standard of SMEs in the Kingdom. It will also support them to
reach the opportunities provided by the public and private
sectors, including those offered by QIC.”
Under the first MoU, QIC, will provide Monsha’at with
commercial opportunities across the key sectors of hospitality,
tourism, and entertainment, in all areas of the business,
including: contracting; supply; logistics; IT; maintenance;
public services, and more. Certain conditions will have to be
met by service providers, which will help Monsha’at to
rehabilitate SMEs and set policies, standards, and strategies
to raise the productivity of these enterprises and increase
their contribution to the GDP. This in turn will enhance the
contribution of local entities to the major projects being
implemented in the Kingdom.
QIC will be able to use the digital and research platforms of
Monsha’at to obtain updated information on companies, thus
improving the decision-making mechanism for the company,
and making Qiddiya an attractive environment for SMEs and
emerging companies.
Monsha’at will help QIC establish its own innovation center,
benefitting from Monsha’at’s experience in this field and will
also give QIC access to its research facilities and centers.
Additionally, Monsha’at will provide Qiddiya with statistical
information to be used in developing Qiddiya’s various project
sectors.
The second MoU will give Qiddiya access to Monsha’at’s
“Jadeer” portal – a database of SMEs operating in the
Kingdom categorized by sector – as well as a list of emerging
companies that benefit from business incubators. This access
will allow easier communication between QIC and entities in
sectors where there are opportunities for collaboration.
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