IT Park has discussed the prospects of cooperation with the General Authority for Small and Medium Enterprises of Saudi Arabia (Monsha’at). This was reported by the press service of the tech park.
A delegation led by IT Park's CEO Farhad Ibragimov held talks with Monsha’at's business development specialist Dukh al-Khadjri and the service development director Hamza al-Suwayed. The main topic was the creation of new opportunities for Uzbek startups.
The guests suggested including the IT Park representation in Riyadh as a member of Monsha’at. It is expected that this will provide companies from Uzbekistan access to business events held in the kingdom and the opportunity to showcase their products and services.
The tech park's representation is set to begin operations in 2025. In February of the same year, the first two Uzbek companies are preparing for an official launch in the Saudi Arabian market.
Additionally, Monsha’at expressed interest in supporting Uzbek startups. Specifically, there are plans to attract Saudi venture funds for investments and provide expert support in Middle Eastern markets.
The parties also discussed organizing a Saudi delegation's visit to Uzbekistan in January of next year. During this visit, Uzbek companies will have the opportunity to present their capabilities and establish contacts with investors and partners.
Earlier, Spot reported that IT Park opened a representative office in South Korea.