Riyadh -- The Kingdom of Saudi Arabia, represented by the Small and Medium Enterprises General Authority "Monsha'at," signed a memorandum of cooperation (MoC) today with the Jordan Enterprise Development Corporation (JEDCO) of the Hashemite Kingdom of Jordan.

The agreement -- signed in the presence of Monsha'at Governor Sami Ibrahim Alhussaini and JEDCO CEO Abdel Fattah Al-Kayed on the sidelines of the Public Investment Fund (PIF) Private Sector Forum -- aims at enhancing economic, commercial, and investment cooperation in the small and medium enterprise (SME) sector.

The MoC seeks to increase expertise exchange between the two agencies to improve the institutional infrastructure and the SMEs in the two countries and organize business visits to improve trade relations between SMEs and training programs.

The deal contributes to enhancing technical and innovative cooperation to improve productivity and competitiveness, and it supports the exchange of promotional activities to promote available opportunities for small and medium enterprises, in addition to developing models, policies, and strategies for developing entrepreneurship between the two countries.

Through the agreement with JEDCO, Monsha'at also seeks to reach the highest levels of cooperation in various sectors to support entrepreneurs and owners of SMEs in realization of the targets of the Saudi Vision 2030.