Ministry of Economy and Planning Signs Memorandum of Understanding with the Federation of Saudi Chambers of Commerce
- Ministry news
- 20 May 2026
- 2 minute to read
In the presence of His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, and His Excellency Ammar M. Nagadi, Vice Minister of Economy and Planning, and Abdullah Saleh Kamel, Chairman of the Board of the Federation of Saudi Chambers of Commerce, the Ministry of Economy and Planning signed a Memorandum of Understanding (MOU) with the Federation of Saudi Chambers of Commerce to enhance collaborative efforts in economic and development sectors. The MOU serves as a framework for fostering cooperation in various areas, including the support of the private sector and the empowerment of small and medium-sized enterprises.
The primary objectives of the MOU are to collaborate on the development of joint economic studies and research, facilitate the exchange of data and analysis, and provide support for programs and initiatives that promote entrepreneurship. Additionally, the agreement seeks to identify and address the challenges faced by the private sector.
Furthermore, the MOU encompasses cooperation in regional and sectoral development. It also outlines the development of training programs to enhance workforce skills and ensure that education outcomes align with labor market needs. Additionally, the agreement includes organizing workshops and consultative meetings with the private sector and supporting efforts related to sustainability, innovation, technology, and sustainable finance.
The MOU was signed by Farah Ismail, Deputy Minister for Sectoral and Regional Development Affairs at the Ministry of Economy and Planning, and Sultan bin Mohammed Almusallam, Secretary General of the Federation of Saudi Chambers of Commerce.
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