Riyadh – Sharikat Mubasher: The Saudi Ministry of Economy and Planning signed a memorandum of cooperation with Saudi Venture Capital (SVC) to strengthen collaboration around entrepreneurship and venture capital development in the Kingdom.

According to an official press release by the Ministry, the agreement, which was signed in the presence of Faisal F. Alibrahim, Minister of Economy and Planning, focuses on sharing data and studies related to the regulatory environment for entrepreneurship and investment. It also covers joint research assessing the economic impact of entrepreneurship and venture capital activity, alongside identifying priority sectors and developing targeted investment plans to support their growth.

Under the memorandum, both parties will prepare joint reports tracking developments in the entrepreneurship and venture capital ecosystem and their broader economic impact. The cooperation also includes designing and implementing initiatives to support innovation and entrepreneurship, with additional areas of collaboration to be defined over time.

The memorandum was signed by Ammar Nagadi, Vice Minister of Economy and Planning, and Nabeel Koshak, Chief Executive Officer of Saudi Venture Capital.