The General Authority for Small and Medium Enterprises Signs a Strategic Memorandum of Understanding with STC, the later would Allocate 15% of its Procurement in favor of SMEs.

30 Mar 2017
​The General Authority for Small and Medium Enterprises has signed a strategic memorandum of understanding with Saudi Telecom Company (STC), represented by the unit of business sector, aiming at cooperation on a range of initiatives that enhance the flexibility and competitiveness of these enterprises, to contribute to the promotion of GDP, and contribute as well in realizing the Kingdom's Vision 2030. The two parties agreed that STC would allocate 15% of its procurement budget for the Saudi Small and Medium Enterprises, and this initiative to be implemented immediately.

This Memorandum of Understanding was signed by Dr. Ghassan bin Ahmed Al Sulaiman, Governor of the General Authority for Small and Medium Enterprises, and Dr. Khalid Bin Hussain Al Bayari, CEO of STC.

Dr. Ghassan Al-Sulaiman considers that signing the Memorandum of Understanding with Saudi Telecom Company will contribute to the development of the business sector in the Kingdom, by introducing modern practices and technologies that may encourage innovation and creativity. The most important feature of this initiative is the possibility of reducing the operation costs and would save a lot of time for SMEs.

For his part, Dr. Al Bayari pointed out that this Memorandum of Understanding comes as part of the effective communication between STC and SME, and as part of STC plans to support the SMEs sector, stressing that STC is proceeding in its efforts to support the wise government's directives, based on partnerships between the public and private sectors.

The two sides agreed to set up a committee headed by Eng. Anaf Abanmi, STC Vice President of Business Sector, to follow up and meet the needs of Small and Medium Enterprises, by providing the best solutions in the field of communications and information technology, such as cloud computing applications and managed services, so as to increase quick performance, flexibility and promotion of these enterprises.

Last Modified 26 Dec 2018