Tuesday, 16 March, 2021 - 11:45 Saudi Arabia is seeking to implement programs and initiatives to support business and technology startups (Asharq Al-Awsat). Dammam - Asharq Al-Awsat
Saudi Arabia is seeking to implement programs and initiatives to support business and technology startups. In this context, the Royal Commission for Jubail and Yanbu announced on Monday the signing of a memorandum of understanding with the Saudi Aramco Entrepreneurship Center (Waed), to support the establishment of startups in the petrochemical field.
The MoU aims to support startups in the energy and petrochemical sectors, to fill important gaps in the Saudi economy, and to accelerate the pace of modernization of the Kingdom’s industrial sector. Its scope of work extends to the industrial cities of Jubail and Ras Al-Khair on the Arabian Gulf, and the cities of Yanbu and Jazan for basic and downstream industries on the Red Sea.