RIYADH: ARAB NEWS
Published — Wednesday 17 September 2014
Last update 16 September 2014 11:11 pm
Saudi Arabia and South Korea have agreed to enhance cooperation in the areas of entrepreneurship and small and medium enterprises (SMEs), local media said quoting a senior official of The Centennial Fund (TCF).
Meanwhile, the TCF signed a cooperation deal last Sunday in Seoul, South Korea, with Young Entrepreneurs’ Society of Korea (YESK) aimed to exchange expertise between the two organizations, Asharq Al-Awsat daily said.
The deal comes to streamline aspects of cooperation between Seoul and Riyadh on entrepreneurship, SMEs and how to explore new projects, TCF Director General Abdulaziz Al-Mutairi told the paper.
He said the deal is primarily concerned with the creation of avenues of cooperation between the two countries, exchange of visits between entrepreneurs and how to tackle obstacles facing young investors.
The deal was signed by Al-Mutairi and board Chairman of YESK Michael Lee.
Al-Mutairi said the deal is intended to spread ideas of new projects and boost efforts of sustainable development in Asia, adding that the TCF is keen to disseminate successful free business to enrich experiences and support skills of new leaderships of young businessmen.
YESK chief stressed the importance of the TCF’s experience in financing SME projects which, he said, is applicable in all parts of the world.
He expressed his utmost concern over studying the TCF’s model and exchange experience so as to transfer it to South Korea as it is considered a leading experience that needs respect and appreciation.