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
Visa Opens the Door to AI-Driven Shopping for Businesses Worldwide8.4.2026 19:00:00 EEST | Press release
Visa Inc. (NYSE: V) today unveiled Intelligent Commerce Connect, a new solution that makes it easier for businesses to connect to and participate in AI-powered commerce. Intelligent Commerce Connect acts as a network, protocol, and token vault-agnostic ‘on ramp’ to agentic commerce for agent builders, merchants, and enablers. As consumers increasingly rely on AI agents to make purchases, businesses – whether they are building agents, selling to them, or processing transactions – need a simple way to get started. Intelligent Commerce Connect, part of the Visa Intelligent Commerce portfolio, meets that need. Through a single integration via the Visa Acceptance Platform, Intelligent Commerce Connect enables secure payment initiation, tokenization, spend controls, and authentication. The solution integrates both Visa Intelligent Commerce APIs, which are used to process agent purchases using Visa cards, and other networks’ APIs, allowing agents to pay with both Visa and non-Visa cards*. Thi
Andersen Consulting Strengthens Digital Transformation Capabilities Through Kyanon Consulting Collaboration8.4.2026 16:30:00 EEST | Press release
Andersen Consulting enhances its platform through a Collaboration Agreement with Kyanon Consulting, a Vietnam-based technology consulting firm known for delivering large-scale digital transformation solutions. Founded in 2025, as an arm of Kyanon Digital, Kyanon Consulting provides end-to-end digital and technology services to retail, banking and finance, and manufacturing organizations seeking to modernize operations, improve customer engagement, and accelerate growth. The firm delivers solutions across digital strategy, enterprise and product development, system integration, workflow automation, advanced analytics, and AI-driven insights for customer experience. “At Kyanon Consulting, our mission is to create digital impact that truly matters,” said Tai Huynh, founder of Kyanon Consulting. “We equip clients with the tools, insights, and innovation needed to strengthen resilience and unlock new opportunities. Collaborating with Andersen Consulting allows us to bring our capabilities t
Sumitomo Corporation, SMBC Aviation Capital, Apollo and Brookfield Complete the Acquisition of Air Lease Corporation8.4.2026 16:13:00 EEST | Press release
Sumitomo Corporation, SMBC Aviation Capital, Apollo-managed funds (“Apollo”) and Brookfield today announced that they have completed the previously announced acquisition of Air Lease Corporation (“Air Lease”) and have renamed the business Sumisho Air Lease Corporation (“Sumisho Air Lease”). This transformational transaction improves the financial position of the business with long term support and aviation expertise from co-investors Sumitomo Corporation, SMBC Aviation Capital, Apollo and Brookfield. Sumisho Air Lease’s strong foundation as an established aircraft lessor, supported by SMBC Aviation Capital’s industry‑leading capabilities as servicer, creates a platform with the scale and financial strength needed to meet the fast‑changing and increasingly complex requirements of airline customers. Sumisho Air Lease will also benefit from the deep expertise and long-standing commitment that both Sumitomo Corporation and SMBC Aviation Capital bring to the global aviation leasing sector.
Sitetracker Launches Scout, an Agentic AI Platform Purpose-Built for Critical Infrastructure8.4.2026 16:00:00 EEST | Press release
Sitetracker, the leading Asset Lifecycle Management platform for critical infrastructure, today announced the launch of Scout, its new Agentic AI platform designed to help infrastructure owners, operators, and contractors gain deep insights and drive automation within their operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260408923336/en/ Scout, ready for real work As your AI analyst and agent, Scout is ready to work on day 1. Scout provides clarity when decisions are forming and momentum when action is required. It surfaces risk, synthesizes information, and helps accelerate execution by connecting data and driving action. Scout creates operational intelligence and turns it into action all in a secure environment that protects data sovereignty. “Our customers are looking to create compounding competitive advantages,” said Giuseppe Incitti, Chief Executive Officer of Sitetracker. “Scout delivers by providing easy t
Westinghouse Hosts Annual VVER Fuel Forum with Customers8.4.2026 16:00:00 EEST | Press release
Westinghouse and MVM Paks Nuclear Power Plant (NPP) recently co-hosted the VVER Fuel Forum in Budapest to share insights and plans for the continued deployment of VVER-1000 and VVER-440 fuel in operating reactors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260408646373/en/ Participants to the VVER Fuel Forum Péter János Horváth, CEO of MVM Paks, welcomed all the participants, highlighting that Hungary is ending two decades of single supplier fuel dependency thanks to the agreement recently signed with Westinghouse to supply the VVER-440 NOVA E-6 fuel design. Six customers presented the progress made and positive outcomes achieved in the past years with the introduction of Westinghouse fuel into mixed cores with resident fuel in their reactors: Energoatom has extensive experience with Westinghouse VVER-440 and VVER-1000 fuel, currently used in the nine reactors in operation. Ukraine will be the first country to operate en
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