Saudi Federation for Cyber Security, Draper University ink MoU

Updated 22 March 2018
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Saudi Federation for Cyber Security, Draper University ink MoU

JEDDAH: The Saudi Federation for Cyber Security and Draper University signed a Memorandum of Understanding, The Saudi Press Agency reported on Wednesday.
The deal was announced on the sidelines of the Saudi Crown Prince Mohammed bin Salman’s royal visit to the US.
The California-based institution is specialized in teaching business pioneering and is known for its training programs in developing entrepreneurship.
The deal aims to send 15 Saudi nominees on scholarship to the headquarters of the university in addition to exploring the possibility of establishing a branch of the university in the Kingdom.
The agreement was co-signed by the Federation’s Vice Chairman Abdullah Sharaf Alghamdi, on behalf of its Chairman Saud bin Abdullah Al-Gahtani, and John Bax, the Vice President of the university.
In a statement, Al-Gahtani said that the MoU comes among a series of agreements aiming to achieve Saudi Vision 2030 and build a new technological generation.


Green light for crown prince-led Saudi privatization program

Updated 25 April 2018
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Green light for crown prince-led Saudi privatization program

  • The Privatization Program is one of 12 key elements of the Saudi Arabia’s Vision 2030
  • The program is aimed at increasing job opportunities for Saudi nationals

RIYADH: Saudi Arabia’s Council of Economic and Development Affairs on Tuesday approved the Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030. 

The program is aimed at increasing job opportunities for Saudi nationals, attracting the latest technologies and innovations, and supporting economic development.

It encourages both local and foreign investment in order to enhance the role of the private sector, with government entities adopting a regulatory and supervisory role. The aim is to increase the private sector’s contribution to GDP from 40 percent to 65 percent by 2030. 

The program will aim to reach its objectives through encouraging the private sector to invest in establishing new schools, universities and health centers, while the government pursues its organizational and supervisory role in health and education.

The privatization program aims to benefit from previous success stories, with the private sector’s collaboration in the development of infrastructure, and its involvement on a large scale in sectors such as energy, water, transport, telecommunications, petrochemicals and finance.

The program sets out a series of objectives in three areas: Developing a general legal framework for policies related to privatization; establishing organizational foundations and dedicated institutions to execute the policies; and setting a timescale for their delivery. 

The Council of Economic and Development Affairs is headed by Crown Prince Mohammed bin Salman.