Saudi Ministry of Commerce wins Compass Award at GEC 2022

By Salma C, Intern Reporter
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The Saudi Arabian Ministry of Commerce has won the Compass Award, a global flagship honor bestowed upon individuals, organizations, or communities that have been instrumental in enabling entrepreneurs to establish startups internationally while contributing to their growth across the globe.

The award was announced on the sidelines of the Global Entrepreneurship Congress (GEC) currently being held in Riyadh.

The Ministry has won the ONE GLOBAL ECOSYSTEM AWARD, an award category given to organizations that have made an impact in connecting a group of partners who help entrepreneurs start their business ventures and expand their business globally.

Mr. Saleh Al-Rasheed, Governor of the General Authority for Small and Medium Enterprises (Monsha’at) received the award on behalf of Saudi Commerce Minister Mr. Majid Al-Qasabi at the Global Entrepreneurship Congress.

Monsha’at won the BRAND CHAMPION AWARD, which is granted to members of the Global Entrepreneurship Network (GEN) that embodies and reflects the trademark of the network in the best way through implementing programs and initiatives via an approach that is characterized by innovation and entrepreneurship to insert new programs.

The Global Entrepreneurship Network operates a platform of projects and programs in 200 countries aimed at making it easier for anyone, anywhere to start and scale a business. By fostering deeper cross-border collaboration and initiatives between entrepreneurs, investors, researchers, policymakers and entrepreneurial support organizations, GEN works to fuel healthier start and scale ecosystems that create more jobs, educate individuals, accelerate innovation and strengthen economic growth.

The Saudi Ministry of Commerce is contributing to the development and ensuring the sustainability of the commercial sector, to achieve the objectives of Saudi Vision 2030 to accelerate the Saudi business sector to a leading position. Expanding developments in the global trade arena and strengthening the economic position of Saudi Arabia as a preferred trade destination in the Middle East and the world.

Related: UAE’s Azizi Developments honored with Governmental Appreciation Award