RIYADH:聽The Global Entrepreneurship Congress witnessed several investment initiatives launched worth almost $8 billion on its second day in Riyadh.
Major announcements on the second day included $3.2 billion in investments from the聽Small and Medium Enterprises Bank to finance new businesses.
New business licenses and cooperation agreements
海角直播's Ministry of Investment issued聽six new business licenses and signed two Memorandum of Understanding, along with investments estimated at $1 billion on the second day of GEC 2022.
Monsha鈥檃t, 海角直播鈥檚 General Authority for Small and Medium-Sized Enterprises, signed a cooperation agreement with Al Rajhi Bank worth $533聽million, and another agreement with the same bank to launch point-of-sale and fleet financing products.
Monsha鈥檃t also signed cooperation agreements with the Saudi National Bank, one to support innovation worth $700,000, and another on financing products worth $266 million.
Monsha鈥檃t signed another agreement with Saudi Organization for Auditors and Accountants and THIQAH Company to provide advice to entrepreneurs and launch the new "Etkal" platform.
"GEC 2022 marks the entrepreneurial rise of the Middle East, and of 海角直播鈥檚 potential as an innovation hub for the region," said Saleh Ibrahim Alrasheed,聽Governor of Monsha鈥檃t.聽
Credit cards for SMEs
On the second day of GEC 2022,聽the Arab National Bank launched a credit card for SMEs and other financial products and programs worth $293 million.
Albilad Bank also signed an agreement to provide financing products worth $520 million.聽
