Saudi Economy Ministry, Mukatafa sign MoU to help private sector align with Vision 2030

Following the signing of the MOU, both parties will collaborate to assess the efficacy of current government policies in light of Saudi Vision 2030 and make necessary adjustments.

Prince Waleed bin Nasser started the organization Mukatafa to help the private sector organize leaders and improve industry standards through policy review and development.

The goal of the MoU is to aid the private sector in the Kingdom by examining problems, successes, and openings. Together, you can find the answers that will lead to reliable outcomes. 

The two organizations have agreed to work together to produce studies, reports, and statistics relevant to both the ministry's priorities and the industries Mukatafa represents. 

Publication of surveys among the ministry's target segments is also included in the agreement and is within the purview of the associations protected by Mukatafa.  

Collaboration between government bodies and business sector representatives will also be a part of this. Each half a year, they will host workshops to discuss the most urgent issues and possible solutions to better connect with the private sector and boost market efficiency. 

Quarterly meetings will be held between ministry and Mukatafa representatives to discuss issues affecting the private sector, with the results and suggestions from these meetings shared with other government agencies that may find them useful. 

In addition, with the help of the appropriate authorities, it involves activating and funding Mukatafa events for its projects and programs in order to encourage private sector participation and fortify existing partnerships. 

As an added bonus, we'll be discussing our differing views on how best to draft regulations and laws that will help the industry Mukatafa represents. The agreement will also boost interest in the Productivity Growth Lab among the business sector. 

This agreement is a part of the ministry's and Mukatafa's efforts to work together and share knowledge in order to achieve the goals of Saudi Vision 2030, which seek to boost the quality of services provided to the private sector and improve the economic environment in the Kingdom.