Kuwait SME fund inks startups deal

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RIYADH, Nov 5, (KUNA): The Saudi Chamber of Commerce and Industry in the Eastern Province (Asharqiya Chamber) and the Kuwait’s National Fund for Small and Medium Enterprise Development have hammered out an agreement to support and finance startups.

The Saudi chamber also signed Monday similar pacts with Mohammed Bin Rashid Fund for SME, the Bahraini Chamber of Commerce and Industry and Riyadh Bank on the sidelines of the Rad Forum and Exhibition for Entrepreneurship 2019.

These partnerships will cement Gulf economic integration and cooperation, boost business sectors and promote a culture of entrepreneurship, said Governor of the Eastern Province Prince Saud bin Nayef bin Abdul Aziz told reporters after the inauguration ceremony of the forum held at the Dhahran Expo premises. He stressed that youth are the driving force of the desired economic transformation and their support is a duty on everyone, whether from the business sector or government agencies.

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