The Saudi government will select domestic companies and both governments will provide joint support
Investments will be sought during visits to Saudi Arabia and the UAE by October 1,
The Ministry of SMEs and Startups held a bilateral meeting with Majid bin Abdullah AlQasabi, the Minister of Commerce of Saudi Arabia, at the Seoul Regional Headquarters of the Korea Technology Finance Corporation in Yeouido, Seoul, last July. (Photo is unrelated to the article) 2024.7.29/News1 ⓒ News1 Jang Soo-young,
,
, ‘(Seoul=News1) Reporter Lee Jeong-hoo = The Ministry of SMEs and Startups and the Embassy of the Republic of Korea to the Kingdom of Saudi Arabia announced on the 24th that they will be conducting local engagements in the Middle East with 29 selected SMEs selected by the Saudi government and investment institutions.’,
,
, “‘The Middle East Advancement Support Project for SMEs’ is a project jointly promoted by the governments of Korea and Saudi Arabia to support the advancement of Korean SMEs into the Middle Eastern market and to diversify Saudi Arabia’s industry.”,
,
, ‘If the Saudi government finally selects Korean SMEs, both governments will jointly support their advancement into the Middle East.’,
,
, ‘For this project, the Ministry of SMEs and Startups and the Korean Embassy in Saudi Arabia conducted company recruitment and document evaluations since last July. At the end of August, the Saudi Ministry of Investment visited Korea together with seven Saudi government institutions to conduct presentation evaluations, selecting 29 SMEs in four areas including AI and bio-health.’,
,
, ‘The 29 selected companies are scheduled to visit Saudi Arabia and the UAE from September 25 to October 1 to participate in visits to major local institutions, meetings, investment attraction briefings, and networking events.’,
,
, ‘The Ministry of SMEs will collaborate with nine institutions, including the Korean Embassy in Saudi Arabia, to actively support the participating companies’ entry into the Middle Eastern market.’,
,
, ‘Lee Soon-bae, Director of the Global Growth Policy Division at the Ministry of SMEs and Startups, stated, “This support project is significant as it opens new markets through cooperation between the governments of Korea and Saudi Arabia.” He further expressed plans to expand support for Korean SMEs’ advancement into overseas emerging markets, leveraging cooperation with the Saudi government.’