Twenty local businesses were granted permission to expand their operations to the United States of America, the United Kingdom, the United Arab Emirates, and Singapore as a result of the completion of the Promising Innovative Enterprises Global Expansion Project by the General Authority for Small and Medium Enterprises (Monsha'at).
To strengthen collaboration between local and international business owners, the project required the signing of agreements with both domestic and international companies.
Businesses who took part in the event participated in displays, workshops, and meetings with new and prospective business owners in order to facilitate access to worldwide markets and to gain prospects for investment.
Riyadh, May 31, 2024. During the course of the Promising Innovative Enterprises Global Expansion Project, which lasted for eighteen months and enabled twenty local businesses to travel to the United States of America, the United Kingdom, the United Arab Emirates (UAE), and Singapore, the General Authority for Small and Medium Enterprises (Monsha'at) was able to successfully complete the project. The purpose of the visits was to improve the engagement between local and foreign businesspeople, and as a result, agreements were signed with both domestic and international enterprises.
In addition, the programs extended invitations to participating businesses to attend exhibitions and workshops, in addition to specific meetings with new and prospective business owners. The aim of the participation of these companies in the most famous technical conferences and worldwide business incubators was to provide an opportunity for local enterprises to reach global markets, which will contribute to the expansion of their operations and investment opportunities. Establishing connections between entrepreneurs and the global system of innovation and entrepreneurship is the mission of Monsha'at to empower entrepreneurs.
Moreover, the aim of the organization is to inform local firms about the opportunities that are reachable, which will attract international investors to invest in national enterprises. This enabled the signing of four agreements with local and international businesses in several industries, besides attracting over fifty potential investors for new businesses. This will have a beneficial effect on the expansion of the local market as well as the ability to communicate with people all over the world.
