Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan and Minister of Commerce and Chairman of the Board of Directors of the Small and Medium Enterprises General Authority (Monsha’at) Majid Al-Kassabi signed a memorandum of understanding (MoU) on Wednesday at the Ministry of Culture in Al-Bujairi district, Diriyah.
According to SPA, the MoU aims at fostering collaboration between the Ministry and Monsha’at, particularly through business incubators and accelerators tailored to the cultural sector.
The partnership seeks to empower cultural entrepreneurs and organizations by offering targeted training programs designed to address sector-specific needs. It also includes strategic consulting services to strengthen entrepreneurs' skills and advance their projects through innovative, sustainable approaches. These efforts aim to generate substantial economic and cultural impacts, promote awareness, and raise knowledge about investment opportunities and growth potential in the cultural sector.
Key elements of the agreement focus on enhancing commercial innovation and integrating modern technologies for small and medium-sized cultural enterprises, ultimately contributing to a thriving cultural landscape and bolstering their role in the local economy.
The MoU aligns with the Ministry of Culture’s broader strategy to build strategic partnerships across sectors. It aims to empower entrepreneurs and innovators by providing access to essential resources and opportunities, advancing the cultural sector, and fostering a climate of creativity and innovation in line with the objectives of the National Strategy for Culture under Saudi Vision 2030.
