Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at) has signed a Memorandum of Understanding (MoU) with the Saudi Falcons Club to create a collaborative framework for supporting entrepreneurship in the Kingdom’s falconry and hunting sector. The agreement aims to leverage the unique cultural and economic potential of this traditional industry to foster a new wave of SMEs, directly contributing to the economic diversification goals of Saudi Vision 2030.
A Strategic Partnership to Diversify the Economy
The MoU was formalized on the sidelines of the International Saudi Falcons and Hunting Exhibition in Riyadh, a major event for enthusiasts and industry professionals. Representing the two parties were Eng. Monther bin Sulaiman Al-Farraj, Director General of Business Development at Monsha’at, and Abdulrahman bin Mohammed Shiba Al-Hamad, Head of the Financial Affairs and Investment Sector at the Saudi Falcons Club. The partnership is designed to combine Monsha’at’s expertise in SME development with the Falcons Club’s deep industry knowledge to unlock new economic opportunities and increase the contribution of SMEs to the national GDP.
Key Areas of Collaboration
The agreement outlines several core areas for joint action aimed at building a robust entrepreneurial ecosystem around falconry. Key initiatives will include:
- Knowledge Exchange: Sharing practical and scientific expertise between the two organizations to inform program development.
- Joint Initiatives: Co-developing programs and initiatives to raise awareness about entrepreneurship within the sector and expand economic participation.
- Venture Development: Exploring opportunities for joint projects and supporting the launch of new businesses in industries and services related to falconry and hunting.
- Skill Enhancement: Creating specialized programs to cultivate entrepreneurial skills and empower youth to innovate and contribute to local production.
- Highlighting Success: Promoting national success stories to inspire and motivate aspiring entrepreneurs to enter this promising niche market.
Fusing Cultural Heritage with Economic Innovation
This collaboration marks a significant step in aligning Saudi Arabia’s rich cultural heritage with its ambitious economic future. Monsha’at is tasked with organizing and nurturing the business environment for SMEs to boost their productivity and market access. Simultaneously, the Saudi Falcons Club is expanding its mandate beyond preservation to include driving economic and social impact by supporting investment initiatives linked to this cultural cornerstone. By working together, the two entities aim to create a sustainable model where tradition fuels modern enterprise.
About Monsha’at
The Small and Medium Enterprises General Authority (Monsha’at) of the Kingdom of Saudi Arabia was established in 2016 to regulate, support, and develop the SME sector. It aims to increase the productivity of SMEs and their contribution to the GDP by implementing and supporting programs that foster a culture of entrepreneurship, innovation, and business development.
About The Saudi Falcons Club
Founded by Royal Decree, the Saudi Falcons Club is dedicated to preserving the historical heritage of falconry in Saudi Arabia and passing it down through generations. The club organizes events, competitions, and exhibitions to promote the cultural practice while increasingly focusing on creating economic and investment opportunities within the sector to ensure its long-term vitality and contribution to the national economy.
Source: SPA
