The Ministry of Municipalities and Housing has signed a tripartite Memorandum of Understanding (MoU) with the Arab National Bank (ANB) and the Kafa’a Association for Operation and Maintenance, aimed at establishing integrated business incubators that enable authorized mobile vendors certified by the Ministry to operate in a safe, regulated environment at affordable costs.
The MoU was signed on behalf of the Ministry by the General Supervisor of the Street Vendors Support and Empowerment Team, Her Royal Highness Princess Noujoud bint Hathloul bin Abdulaziz Al Saud. On behalf of ANB, the agreement was signed by the Head of Retail Banking, Khaled Al-Rashed, while the Chairman of the Board of Directors, Hamoud bin Obaid Al-Anazi, signed on behalf of the Kafa’a Association.
Under the terms of the MoU, ANB will finance the establishment of business incubators, while the Kafa’a Association will undertake the construction, operation, maintenance, and development of the facilities. The Association will also hand over sales outlets to beneficiaries and deliver training programs designed to enhance product quality and strengthen the competitive edge of authorized mobile vendors.
The Ministry of Municipalities and Housing will provide overall supervision of the initiative’s implementation and coordinate with the relevant authorities, contributing to the provision of standardized, model sales outlets across the Kingdom’s regions.
This partnership is an extension of the Ministry’s efforts to regulate the activities of authorized mobile vendors and empower them economically, while strengthening collaboration among the public, private, and non-profit sectors to support employment opportunities and develop small enterprises, in line with the objectives of Saudi Vision 2030.
It is worth noting that the Ministry of Municipalities and Housing, in cooperation with regional municipalities, launched the “Bastat Khair Saudi Arabia” initiative, which aims to regulate the activities of authorized mobile vendors and empower them economically through approved locations and sales outlets that meet standardized requirements.
The second season of the initiative was launched at the beginning of the current month of Ramadan across various regions of the Kingdom, as part of the Ministry’s efforts to develop the working environment for authorized mobile vendors and transform their operating locations into organized commercial models that contribute to improving the urban landscape and enhancing quality of life, in line with the objectives of Saudi Vision 2030.
