HRH Prince Faisal Bin Salman bin Abdulaziz, Governor of Medina and Chairman of the Waqf Al Munawara Board of Trustees, commended Saudi Aramco’s efforts in embracing innovative ideas and its role in the community service system as a pioneering company at the local level through the Saudi Aramco Entrepreneurship Center, or Wa’ed. The Prince said he valued the significant efforts undertaken by the company in developing and financing small- and medium-sized enterprise sector in the Kingdom through Wa’ed. He emphasized that its active participation contributes to the success of this program because of its role in the comprehensive and balanced development across the Kingdom, which has gained positive notice Kingdomwide and is seen as a source of pride. This came after the recent launch of the Medina Entrepreneurship Conference organized by the International Nama al-Munawarah for Entrepreneurs in Medina through a strategic partnership with Saudi Aramco. Funding Agreements The opening ceremony was followed by the signing of the first financing agreement in Medina with Wa’ed, represented by Al-Khursani, and the Creative Packaging Factory, represented by Yusuf Al-Majnuni. The second agreement was with Fahd Al-Hamzi, founder of High Sky Factory, in the presence of businessman Yusuf Al-Mimuni and Usama Al-Ashry, vice president of Nama al-Munawarah, as well as all Wa’ed team members who participated in the conference. Pioneering Idea Outcomes Al-Majnuni said that his project (the under construction Creative Packaging Factory) will manufacture innovative and environmentally friendly paper products that are considered a future alternative to wood products. They are distinct for their lightweight and strength due to the geometry used in the composition of the paper. Fahad Al-Hamzi said that the High Sky Factory for manufacturing environment-friendly bags was founded and started operating at the end of 2014. Located in Dammam, it is the first of its kind in Saudi Arabia. He noted that since its early establishment, the factory has succeeded in reaching a Saudization rate of 70%. “The factory is one of the pioneering ideas that were made and supported financially and professionally by Wa’ed,” he said. Creative Ideas Al-Khursani stressed that Nama al-Munawarah entrepreneurship supports initiatives designed to incubate promising ideas and industrial projects that accelerate the development of the small- and medium-enterprise sector in Medina. “We at Wa’ed are proud of our contribution to such an important event that combines and promotes efforts to develop an investment environment for entrepreneurship in Medina. We believe in the idea of Nama al-Munawarah initiatives, and we are deeply committed to the strategic partnership in support of this important vital sector,” Al-Khursani added.