Over 25 Agreements Worth More Than $2.93 Billion Signed on the Opening Day of Biban 2023
10.3.2023 13:12:00 EET | Business Wire | Press release
The Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, Monsha'at, has signed a Memorandum of Understanding (MoU) with Huawei Tech Investment Saudi Arabia Limited. Launched on the opening day of Biban 2023 — Saudi Arabia’s flagship startup and SME forum — the new partnership will see the two entities join forces to enhance the digital transformation of the Kingdom’s small and medium-sized enterprises (SMEs).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230310005184/en/
Biban 23 opened its doors today to the world's entrepreneurs, SMEs and startups (Photo: AETOSWire)
As part of the agreement, Monsha’at and Huawei Tech Investment Saudi Arabia will work together to equip Saudi SMEs with the tools to grow and succeed in the e-commerce space. The agreement will promote joint-cooperation and pioneer leading-edge solutions designed to empower SMEs reliant on communication technology.
The MoU was one of more than 25 agreements launched alongside a range of investment initiatives, on the first day of Biban 2023. The event — taking place from March 9 to March 13, 2023, at the Riyadh Front Exhibition & Conference Center — is expected to attract over 105,000 participants, including entrepreneurs, SME owners, investors, policymakers, and other stakeholders from the Kingdom and beyond.
As part of the agreements signed, separate to the MoU with Huawei, eight banks and financing entities pledged more than $2.93 billion to support the Kingdom’s SME ecosystem.
In line with Vision 2030, the agreements will contribute to the diversification of the national economy, transforming the country into a world-class hub of commerce.
Sami Ibrahim Alhussaini, Governor of Monsha’at, said: “We are fully committed to bolstering the national economy and fulfilling the Kingdom’s potential. As part of this mission, we aim to create an affirming entrepreneurial environment conducive to investment and growth. We have made significant strides on this journey over the years, as seen with the Kingdom’s recent leap from 41st place — in 2018 — to second place, in 2022, on the Global Entrepreneurship Monitor’s ‘State of Entrepreneurship index’.”
He added: “Biban 2023 represents a fantastic opportunity for us to build on this progress and take more steps towards realizing the goals of Vision 2030. A unique platform fully geared towards the meaningful exchange of insights, networking and collaboration, Biban 23 will help to inspire innovation and effect lasting positive change within the Saudi and global entrepreneurship sector.”
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230310005184/en/
Contact information
Jose Mendez
Account Director – Weber Shandwick
mendezj@webershandwick.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EIG and Acwa Announce Plenum Power, a Strategic Partnership to Invest in U.S. Power Infrastructure29.10.2026 07:00:00 EET | Press release
EIG, a leading institutional investor in the global energy and infrastructure sectors, and Saudi-listed Acwa, one of the world's largest independent power producers, today announced that they have entered into definitive agreements to establish Plenum Power, a strategic partnership focused on investment opportunities in the United States. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261028377569/en/ Dr. Samir J. Serhan, Chief Executive Officer of Acwa (left), and R. Blair Thomas, Chief Executive Officer of EIG (right) Building on an established relationship that includes prior collaboration on projects in the Middle East, EIG and Acwa are now partnering to pursue opportunities in the U.S. power sector through Plenum Power. The parties intend for Plenum Power to target a launch with an initial equity commitment of approximately $4 billion. The partnership combines Acwa's global capabilities in developing, financing, constru
Murata Launches World’s Smallest RF / Microwave Coaxial Connectors with a Switch, Cutting PCB Mounting Area by Approximately 40%29.10.2026 04:00:00 EET | Press release
Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) has begun mass production of the SWL series MM8330-2600RJ5 and MM8330-2600RK20, the world’s smallest RF / microwave coaxial connectors with a switch*. Measuring just 1.0 mm × 1.0 mm × 0.55 mm, the new connectors reduce PCB mounting area by approximately 40% compared with Murata’s previous SWJ series. When used with dedicated probes, the SWL series reduces its PCB footprint, including the keep-out area, by approximately 60% compared with Murata’s previous SWJ series. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261028261665/en/ [Murata Manufacturing Co., Ltd.] RF / microwave coaxial connectors with a switch As wireless devices incorporate more functionality, rising component counts are placing increasing pressure on limited PCB space. RF test connectors require not only mounting area for the connector itself, but also sufficient clearance around the component
FuriosaAI Secures $620 Million Series D to Meet Surging Enterprise AI Inference Demand and Accelerate Next-Gen Silicon29.10.2026 01:57:00 EET | Press release
FuriosaAI, an AI semiconductor company building sustainable, high-performance inference compute for data centers, today announced the completion of its $620 million (KRW 820 billion) Series D round, bringing its post-money valuation to approximately $2.9 billion. The financing marks a major milestone as FuriosaAI scales global commercial deployments of its RNGD AI inference accelerator. FuriosaAI will use the new capital to expand RNGD production, strengthen its software ecosystem, and accelerate development of its third-generation AI accelerator. International investors contributed a total of $110 million to the round, bringing deep expertise across AI semiconductors and computing infrastructure. U.S.-based Infinitum, an investment firm with extensive experience in the AI semiconductor sector, was the largest international investor in the round. Singapore-based QUDA Capital Partners also joined the round. Its Founder and Managing Partner, Charlie Foo, previously held senior leadership
IFF Declares Dividend for Fourth Quarter 202628.10.2026 22:15:00 EET | Press release
IFF (NYSE: IFF) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.40 per share of its common stock, payable on January 13, 2027 to shareholders of record as of December 19, 2026. Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, and health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience.Learn more at iff.com, LinkedIn, Instagram and Facebook. © 2026 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20261028159928/en/
Transition Industries Signs Definitive EPC Agreement with Siemens Energy and Techint E&C for Pacifico Mexinol’s 210 MW Electrolyzer Facility28.10.2026 20:36:00 EET | Press release
Transition Industries LLC today announced that it has signed a definitive Engineering, Procurement and Construction (EPC) agreement with Siemens Energy and Techint Engineering & Construction (“Techint E&C”) for the approximately 210 MW electrolyzer facility at its Pacifico Mexinol project in Sinaloa, Mexico. The agreement is subject to customary conditions precedent, including the completion of project financing. The signing builds on the Front-End Engineering Design (FEED) contract announced in August 2025 and represents an important milestone in advancing the project’s renewable hydrogen production infrastructure from engineering toward construction. The facility will incorporate Siemens Energy’s Elyzer P-300 electrolyzer technology and produce renewable hydrogen to support the production of renewable fuels of non-biological origin (RFNBO) within Pacifico Mexinol’s planned 6,130-metric-ton-per-day ultra-low-carbon methanol complex. The technology plays a crucial role in achieving the
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom