Signing an action plan to activate the incubation of entrepreneurship projects in Al-Ula, Saudi Arabia

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Signing an action plan to activate the incubation of entrepreneurship projects in Al-Ula, Saudi Arabia

Includes business accelerators in the tourism and agricultural sectors


Friday – 30 Muharram 1442 AH – September 18, 2020 AD Issue No. [
15270]


Al-Ula Governorate (western Saudi Arabia) is known for its archaeological and historical sites amid efforts to make it a major tourist destination (Middle East)

Al-Ula: «Middle East»

The Royal Commission for Al-Ula Governorate – West of the Kingdom – announced yesterday that it signed a joint work plan with the General Authority for Small and Medium Enterprises (Monsha’at), with the aim of developing the entrepreneurship system in Al-Ula, enabling the success of small and medium enterprises by providing them with knowledge and skills, and enhancing the spirit of entrepreneurship in the governorate. , Which contributes to the development of a rich and diversified economy in Al-Ula.
The business plan aims to establish a common workspace to activate a business incubator for small and medium enterprises, providing several services to entrepreneurs, including value-added programs for the economic environment of Al-Ula, such as business incubation programs and business accelerators in vital sectors such as tourism and agriculture, either directly or through virtual digital channels. In addition to providing specialized consultancy services in several fields, to transfer expertise to emerging companies in AlUla.
According to a statement issued yesterday, based on the joint work plan signed by the Governor of the General Authority for Small and Medium Enterprises, Eng. Saleh Al-Rasheed, and the CEO of the Royal Commission for Al-Ula Governorate Eng. And provide support in the field of inventorying and marketing investment opportunities, and presenting them through the approved channels of both parties. The two parties will facilitate the access of small and medium enterprises to the list of services for establishments according to the rules and regulations.
Regarding the joint work plan, Al-Madani said, “The action plan comes with (enterprises) to enhance the economic diversification in Al-Ula, and contribute to achieving the vision of Al-Ula, launched by the Crown Prince, Chairman of the Board of Directors of the Royal Commission for Al-Ula Governorate, Prince Muhammad bin Salman, where we will work together with Monsha’at to empower Entrepreneurs and small and medium-sized companies to enhance the contribution to the GDP in Al-Ula, which will have developmental benefits for the governorate and emphasize the role of society as one of the most important engines of sustainable economic transformation.
For his part, the Governor of “Monshaat”, Eng. Al-Rasheed, said: “This partnership will combine the expertise of (Monsha’at) in the field of business incubators for small and medium enterprises and the economic and exceptional opportunities provided by Al-Ula Governorate, as we will work with the Royal Commission for Al-Ula Governorate to implement the best international practices With regard to supporting these facilities ». The Royal Commission for Al-Ula is guided by the 12 strategic principles derived from the Al-Ula Charter and its framework plan, and through that, it works to serve the people of Al-Ula with a balanced and sustainable approach.
This partnership will work on developing the economic, social and heritage goals of the Saudi Vision 2030, as the authority has set ambitious development goals that include attracting two million visitors annually and creating 38,000 job opportunities by 2035.

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