Social Development Bank and UNCTAD Renew Partnership to Boost Entrepreneurial Skills through Empretec Program.

Riyadh: The Social Development Bank has signed a Memorandum of Understanding (MoU) with the United Nations Conference on Trade and Development (UNCTAD) to renew their collaboration on the Empretec program. This agreement aims to foster entrepreneurship by enhancing the capabilities of small business owners and startups. According to Saudi Press Agency, the Empretec program is a globally recognized initiative focused on nurturing entrepreneurial skills. It plays a crucial role in the Social Development Bank's effort to support small enterprises, aligning with the goals of Saudi Vision 2030. The program offers comprehensive training workshops designed to cultivate effective entrepreneurial behaviors, thereby contributing to local development through skill enhancement and enterprise support. This initiative also aims to facilitate job creation and improve community welfare. The signing of the MoU took place at the headquarters of the Social Development Bank in Riyadh. The agreement outlines the provision of tr aining and development opportunities for entrepreneurs, helping them cultivate essential skills and behaviors needed for success. Furthermore, it emphasizes the implementation of high-quality projects that promote sustainable economic growth. The program's objectives include diversifying income sources, boosting communication among graduates on both local and global scales, and increasing the efficiency of participants through innovative training methods. These efforts are in direct alignment with Vision 2030, which underscores the importance of entrepreneurship as a fundamental driver of economic and social progress. By renewing its partnership with UNCTAD, the Social Development Bank aims to strengthen its commitment to building a robust entrepreneurial ecosystem in Saudi Arabia.