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
Capcom’s Onimusha: Way of the Sword Sells Over 1 Million Units on Launch Day!7.9.2026 16:00:00 EEST | Press release
Capcom Co., Ltd. (TOKYO:9697) today announced that worldwide sales of Onimusha: Way of the Sword, the latest title in the series, have surpassed 1 million units on the first day of its release. Driven by the performance of this title, cumulative sales of the Onimusha series have now surpassed 10 million units. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907554827/en/ Onimusha: Way of the Sword key art Onimusha: Way of the Sword, which marks the first new title in the series in over 20 years, is a swordplay action game featuring protagonist Miyamoto Musashi that is set in Edo-era Kyoto. This title enhances the exhilarating sword-based action of the series with cutting-edge technology while also providing a compelling story and beautiful visual depictions. In addition, through several marketing initiatives prior to launch, such as multiple demo releases and hands-on exhibitions, Capcom worked to expand awareness among a
A2RL Sets New International Benchmark with Europe’s First Five-Car Autonomous Race7.9.2026 15:16:00 EEST | Press release
The Abu Dhabi Autonomous Racing League (A2RL) completed the first-ever multi-car autonomous race in Europe at the Imola Circuit in Italy on 5 September 2026, as part of ACI Racing Weekend. Kinetiz (UAE) won the League’s inaugural international race, across 12 laps of one of the most technically demanding circuits in world motorsport. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907943650/en/ A2RL Sets New International Benchmark with Europe’s First Five-Car Autonomous Race (Photo: AETOSWire) Organised by ASPIRE, the grand challenges arm of Abu Dhabi’s Advanced Technology Research Council (ATRC), A2RL brings together key players across Abu Dhabi’s autonomous mobility ecosystem, with strategic oversight from the Smart and Autonomous Systems Council (SASC). A2RL has evolved from a public testbed for AI under extreme race conditions into a competitive racing series. Imola marked the League’s first international chapter foll
Dubai Chambers to Train 14,000 Private Sector Companies in Agentic AI7.9.2026 13:15:00 EEST | Press release
Dubai Chambers has launched specialised Agentic AI training for more than 14,000 private sector companies, helping businesses build the skills needed to adopt the technology across their operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907193930/en/ H.E. Eng. Sultan bin Saeed Al Mansoori speaking during the launch of the training programme (Photo: AETOSWire) The training forms part of Dubai’s wider programme to transition the private sector towards Agentic AI, launched under the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai. Delivered through the new Dubai Chambers Academy, an integrated e-learning platform, the training provides practical guidance on applying Agentic AI in business. Participants will explore tools and solutions that can improve operations, effici
REPLY: A Face Only A Mother Could Love by Robert Gaudette Wins the Reply AI Film Festival 2026, the International Competition Exploring the Intersection of Cinema and Artificial Intelligence7.9.2026 13:02:00 EEST | Press release
Canadian filmmaker Robert Gaudette, with his short film A Face Only A Mother Could Love, has won the Reply AI Film Festival 2026, the international competition created by Reply to explore new frontiers in cinematic language through the use of artificial intelligence. The award was presented on Sunday 6 September in Venice, during a ceremony organised by Reply and Mastercard at the Match Point Arena, set up at Tennis Club Venezia on the Lido, alongside the 83rd Venice International Film Festival. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907478421/en/ Canadian filmmaker Robert Gaudette, with his short film A Face Only A Mother Could Love, has won the Reply AI Film Festival 2026, the international competition created by Reply to explore new frontiers in cinematic language through the use of artificial intelligence. Now in its third edition, the Reply AI Film Festival received more than 3,000 short films from 76 countri
From China’s Mountains to the World’s Mountains: KAILAS Deepens Its Global Expansion Strategy7.9.2026 12:58:00 EEST | Press release
In late August 2026, KAILAS FUGA, the trail-running brand of KAILAS, a China-based professional outdoor brand, officially opened its first European store in Chamonix, France. As KAILAS’s first directly operated international store, the new location not only gives the brand a more direct presence in the European market, but also marks a new stage in its global expansion — moving from years of investment in products, events, athletes and international channels toward more localized operations and deeper brand development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260906651659/en/ KAILAS First European Store in Chamonix Founded in 2003, KAILAS is one of the world’s three leading full-category climbing brands. Over more than two decades, the company has built its professional capabilities through product development, professional athletes, events and testing in real mountain environments. From mountaineering, rock climbing
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