Sign a memorandum of understanding between the Bank for Social Development and UNCTAD to renew the Empretec programme in the Kingdom

Tuesday-2024-12-03

At its headquarters in Riyadh, the Bank for Social Development signed a memorandum of understanding with the United Nations Conference on Trade and Development (UNCTAD) to renew cooperation in the implementation of the Empretec programme, the leading international programme focusing on the development of the pioneer capabilities of employers in emerging and small enterprises.
This step is part of the Bank ' s efforts to promote business leadership and support for small and emerging enterprises in line with the Kingdom ' s Vision 2030, where the programme seeks to provide global training workshops aimed at building successful pioneer behaviours of business leaders and local development by strengthening their skills and developing their enterprises, thereby contributing to job creation and improving society.
The memorandum of understanding includes support for business leaders and small and emerging entrepreneurs through training and rehabilitation, development of their leadership skills and behaviour, implementation of qualitative projects that contribute to sustainable economic development, where the impact of the programme is reflected in the diversification of income sources, the strengthening of networking between local and global graduates, as well as increasing the efficiency of beneficiaries through innovative training and rehabilitation programmes, which is a direct response to the Kingdom ' s vision of business leadership as one of the key economic and social drivers.
On the signing of the memorandum, Engineer Sultan Bin Abdulaziz Al-Hamidi, Executive Chairman of the Social Development Bank, said: " We are pleased to renew our partnership with UNCTAD to implement the Empretec programme exclusively in the Kingdom. This partnership represents an important step in supporting business leaders and enabling them to achieve their leading goals. We believe that business leadership is the cornerstone of the realization of the Kingdom ' s 2030 vision goals by supporting innovation and creating a functional opportunity for further development.
For her part, Ms. Arlett Verbellogg, President of the Business Leadership Development of UNCTAD, expressed her happiness in cooperation with the Bank for Social Development, saying: " We are proud to renew our cooperation with the Bank for Social Development to support emerging companies and strengthen their leadership capacities. We believe that emerging companies are a driving force for innovation and economic growth, and through this programme we aim to enable the pioneers to realize their aspirations and face challenges, whether in accessing finance or in managing talent.
The Empretec programme is one of UNCTAD ' s leading initiatives, aimed at developing and strengthening personal leadership capacities and building competitive sustainable enterprises, and since its inception in the Kingdom in 2013, it has benefited over 500 participants, contributing to the strengthening of their skills and the expansion of their networks domestically and internationally.
It is noteworthy that in 2023, the Bank for Social Development organized, for the first time, the UNCTAD EMPRETEC Forum, with the participation of 35 members, met from different countries of the world to exchange experiences, review pilot experiences and success stories to develop and strengthen capacities and competencies, support enterprises for local capacity development and create sustainable workflows.