The Small and Medium Enterprises General Authority (Monsha’at) has signed a memorandum of understanding (MoU) with PayPal, a global leader in digital payments, to explore opportunities for cooperation in electronic payments and digital commerce.
The Monsha’at and PayPal agreement, announced during the Biban Forum 2025, aims to strengthen the Saudi small and medium enterprises (SME) ecosystem and expand its global reach.
The MoU seeks to empower Saudi SMEs to grow internationally through digital commerce by facilitating access to new markets via trusted, globally recognized payment platforms, thereby enhancing their competitiveness in line with the objectives of Saudi Vision 2030.
Monsha’at Vice Governor for SME Services, Eng. Rayan Alfayez stated that, “Through our collaboration with PayPal, we aim to take another step toward empowering Saudi entrepreneurs to expand globally and compete at the highest levels.”
“Together, we are building a more connected, innovative, and resilient ecosystem that supports the Kingdom’s goals of economic diversification and digital transformation,” Eng. Alfayez added.
During the Biban Forum 2025, Monsha’at signed a series of memoranda of understanding (MoUs) aimed at strengthening the entrepreneurial ecosystem in the Kingdom and boosting support for SMEs across various sectors.
These MoUs reflect the Saudi Vision 2030’s emphasis on fostering a dynamic and innovative economy by enhancing the role of small and medium-sized enterprises (SMEs), which are seen as key drivers of job creation and economic diversification.
Furthermore, these MoUs underscore Monsha’at’s commitment to empowering entrepreneurs and SMEs in Saudi Arabia, providing them with the necessary tools, resources, and partnerships to thrive.
The Biban Forum 2025 served as an ideal platform to foster such collaborations, as it brings together key players from the private sector, government, and entrepreneurial communities.
