Saudi Arabia’s investment agency signs MoU to support entrepreneurial environment

SAGIA Deputy Governor Ibrahim Al-Suwaiyel and Mohamed Yahya Hakami, CEO of the MIT Forum for Entrepreneurship in Saudi Arabia, during the signing the agreement. (SPA)
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Updated 13 February 2020

Saudi Arabia’s investment agency signs MoU to support entrepreneurial environment

JEDDAH: The MIT Enterprise Forum (MITEF) Saudi Arabia has announced the signing of a new memorandum of understanding (MoU) with the Saudi Arabian General Authority Investment (SAGIA) under the “Invest Saudi” initiative.

MITEF signed the MoU in collaboration with Bab Rizq Jameel, an initiative of Community Jameel.

Under the agreement, SAGIA will join King Abdullah Economic City as a strategic partner of the 4th edition of the MITEF Saudi Startup Competition, held under the theme “Start, Dream, Inspire.”

The official partner of the competition is the Small and Medium Enterprises General Authority (Monshaat).

The MITEF Saudi Startup Competition is a dynamic platform that brings together Saudi entrepreneurs and attracts a unique quality of entrepreneurs in a variety of fields.

This year’s competition will focus on investing in startups through the establishment of the Startup Investment Forum from March 5-7 that will be attended by some of the most promising startups from Saudi Arabia, the Arab region and the world.

The deputy governor of SAGIA, Ibrahim Saleh Al-Suwail, said that the authority welcomes its partnership with the competition, which follows series of programs supporting the growth of entrepreneurship in Saudi Arabia.

“We will continue to work with our public and private strategic partners to turn their ideas into promising projects on the ground,” said Al-Suwail.


Saudi crown prince meets German former foreign minister

Updated 26 February 2020

Saudi crown prince meets German former foreign minister

RIYADH: Saudi Crown Prince Mohammad bin Salman met Sigmar Gabriel, Germany’s former foreign minister, in Riyadh on Tuesday. The two men discussed a number of matters of common interest.

Also present at the meeting were Minister of Foreign Affairs Prince Faisal bin Farhan, Minister of Commerce and Investment Dr. Majid Al-Qasabi, and Jorg Ranau, the German ambassador to the Kingdom.