Riyadh - Mubasher: Zubair Small Enterprises Centre (SEC) and the Business Incubators and Accelerators Company (BIAC) have signed a Memorandum of Understanding (MoU) to support small and medium-sized enterprises (SMEs) in Saudi Arabia and Oman.
The MoU was signed by Khalid Almahfouz, Director of Business Development of BIAC, and Mohammed Mubarak Al Hasani, Chief Communications Officer at Zubair Corporation.
The partnership aims at boosting collaboration between the Kingdom and Oman, as well as providing access to the local market, network, and potential investors in their respective countries.
“Together, we hope to explore opportunities for promoting SMEs in both countries and encourage regional cross-selling amongst SMEs,” Almahfouz commented.
“This significant collaboration marks yet another highpoint for Zubair SEC’s efforts to open business development opportunities for our members. We are happy to sign this MoU with the Badir Program which is managed, operated by BIAC, and we hope this collaboration would bear promising results in the near future,” said Al Hasani.
It is worth noting that Zubair SEC, established in 2013, is a social impact initiative by the Zubair Corporation to support the growth of SMEs in Oman, while BIAC is a Saudi government company owned by the Saudi Technology Development and Investment Company (TAQNIA), which is owned by the Public Investment Fund (PIF).