Dammam, March 15, 2021, SPA -- The Royal Commission for Jubail and Yanbu (RCJY) has signed a memorandum of understanding (MoU) with the Saudi Aramco Entrepreneurship Center (Wa'ed) to support the establishment of petrochemicals start-ups in the cities affiliated with RCJY. The MoU was signed by Dr. Ahmed Al-Hussain, General Manager of Investment Development Sector at the RCJY and Wa'ed CEO Wassim Basrawi. The memorandum is part of Wa'ed's ongoing campaign to support start-up projects and business, including in energy and petrochemicals sectors, with the aim of bridging important gaps in the Saudi economy and accelerating the modernization endeavor to the Saudi industrial sector. Under the memorandum, Wa'ed will be filtering the start-up companies established in the industrial zones affiliated with the RCJY with the aim of granting them low cost loans and helping them improve their businesses through the center's "Project Establishment Program". --SPA 15:25 LOCAL TIME 12:25 GMT 0012 www.spa.gov.sa/w1522880