Minister of Investment Eng. Khalid Bin Abdulaziz Al-Falih held talks here Sunday with visiting South Korean Minister of Small, Medium and Enterprises (SME) and Startups Dr. Lee Young. During the meeting, ways of enhancing cooperation between the two countries in the field of entrepreneurship and innovation and fields of mutual interest were reviewed. The two sides also discussed opportunities of investment partnerships, in addition to getting Korean small, medium and developing companies acquainted of the investment environment in the Kingdom. On the sidelines of the Korean powerful delegation's visit to the Kingdom, ten memoranda of understanding in the field of entrepreneurship and innovation were signed. The MoUs aim at providing support for small, medium and developing enterprises; enabling entrepreneurs to enter the field with more confidence and emphasis; accelerating the companies' growth; attracting investments in the fields of health and agricultural technologies, artificial intelligence for smart cities, digital automization, protection systems, tourism and hospitality industry, digital contents, and robots. In cooperation with Endeavor Saudi Arabia, the Ministry also organized a panel discussion for a host of Saudi and Korean businessmen. During the meeting, opportunities of cooperation between the two sides were discussed. Ministry signs MouU to incentivize innovation In the presence of the Minister Al-Falih, the Ministry of Investment Sunday signed a Memorandum of Understanding (MoU) with BETA-Lab company, the fund and studio of developing companies in the field of deep technology. The memorandum aims to incentivize investment and innovation of developing companies operating in the field of deep technology. The MoU also aims to facilitating the entry of international entrepreneurship in the field of deep technologies into the Kingdom; transferring knowledge of deep technologies and developing innovation-incentivizing policies of deep technologies. — SPA
