Saudi Ministry of Commerce wins Compass Award at GEC for entrepreneurship efforts

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The Global Entrepreneurship Network (GEN) announced that Saudi Arabia’s Ministry of Commerce has been awarded a Compass Award for its efforts in pushing for more startups and encouraging entrepreneurship in the Kingdom at the Global Entrepreneurship Conference (GEC), the Saudi Press Agency (SPA) reported on Tuesday.

The Compass Award is a global award which is given to businesses, individuals, or communities that encourage entrepreneurship in enabling more startups and contributing to the international entrepreneurship landscape.

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The ministry won the ‘One Global Ecosystem Award’ category, an award this is granted to organizations that played an important role in connecting a wide group of stakeholders that help entrepreneurs start their commercial activities and expand their businesses globally, the SPA report stated.

Governor of the small and medium-sized enterprises (SMEs) General Authority Monsha’at, Saleh al-Rasheed, received the award at GEC 2022 on behalf the Kingdom’s commerce minister Majid al-Qasabi.

Monsha’at also won the ‘Brand Champion Award’, which is granted to members of GEN that embody and reflect the trademark of the network effectively by implementing programs and initiatives that encourage innovation.

GEC 2022, held under the patronage of Saudi Arabia’s Crown Prince Mohammed bin Salman, began on Sunday and is set to run until Wednesday, bringing together investors, policy makers, and community leaders from around the world to help rebuild the pandemic-stricken global economy.

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