In the presence of His Excellency Minister of Economy and Planning Faisal bin Fadel Alibrahim, His Excellency Vice Minister of Economy and Planning Eng. Ammar Nagadi, Chairman of the Federation of Saudi Chambers, and Abdullah bin Saleh Kamel, the Ministry of Economy and Planning, signed a memorandum of understanding with the Federation of Saudi Chambers to strengthen collaboration on economic priorities, enhance private sector engagement, and expand support for SMEs.
The agreement focuses on joint economic research, data sharing, and deeper analysis of private sector challenges.
Cooperation Extends to Development, Skills, and the Labor Market
Areas of cooperation include regional and sectoral development, the development of training programs to enhance workforce skills, and aligning educational outcomes with labor market needs. The memorandum also includes organizing workshops and consultation sessions with the private sector, while supporting innovation, technology, and emerging economic opportunities.
Strengthening Dialogue on Economic and Development Issues with the Private Sector
The agreement strengthens collaboration between government entities and businesses through data sharing and knowledge exchange, as well as the development of initiatives related to the business environment and broader economic and development issues.
The memorandum was signed on behalf of the Ministry of Economy and Planning by Her Excellency Farah bint Ahmed Ismail, Deputy Minister for Sectoral and Regional Development Affairs, while it was signed on behalf of the Federation of Saudi Chambers by His Excellency Secretary-General Sultan bin Mohammed Al-Musallam.
What Does This Mean for Businesses?
This cooperation enhances opportunities to benefit from shared economic studies, data, and analysis, while supporting initiatives related to entrepreneurship, skills development, and labor market alignment. It also provides the private sector with greater opportunities to participate in discussions surrounding business challenges and the development of initiatives related to the business environment.
Absher Business supports entrepreneurs and companies in establishing operations in Saudi Arabia and building operational structures that align with opportunities across Saudi Arabia’s business environment.
