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Dhahran – Saudi Aramco will offer 140 contracts valued at £ 60 billion to the Kingdom's small and medium-sized enterprises (SMEs).
Aramco is working with the government to strengthen cooperation with SMEs while it spends SAR 170 billion a year for various services, according to Mohammed Al-Shamri, Deputy Director of Purchasing and Procurement.
Saudi Aramco and the General Authority of Small and Medium Enterprises (Monsha'at) signed a memorandum of understanding at the Biban Forum in eastern Dhahran.
"The purpose of the Memorandum of Understanding is to strengthen cooperation with the Authority by strengthening the self-reliance of small and medium-sized enterprises in the Kingdom by improving the investment environment and providing opportunities for business. Investment in this sector, related to oil and gas, "said Al-Shamri, adding will facilitate SMEs doing business with Saudi Aramco.
Created in 2015, Monsha'at aims to increase the contribution of SMEs to the economy from 500 billion SR in 2014 to 2 000 billion SR in 2030. – Agences
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