Pakistani Prime Minister Imran Khan arrives in Madinah during maiden visit to Saudi Arabia

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Pakistani Prime Minister Imran Khan visits the Prophet’s Mosque in Madinah, Saudi Arabia. (Twitter @PTIofficial)
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Pakistani Prime Minister Imran Khan visits the Prophet’s Mosque in Madinah, Saudi Arabia. (Twitter @PTIofficial)
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Pakistani Prime Minister Imran Khan visits the Prophet’s Mosque in Madinah, Saudi Arabia. (Twitter @PTIofficial)
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Pakistani Prime Minister Imran Khan visits the Prophet’s Mosque in Madinah, Saudi Arabia. (Twitter @PTIofficial)
Updated 19 September 2018

Pakistani Prime Minister Imran Khan arrives in Madinah during maiden visit to Saudi Arabia

  • Although bilateral relations and regional security are on the agenda of Imran Khan’s visit, a more urgent priority will be a possible economic bailout package from the KSA
  • The prime minister will call on King Salman and hold a bilateral meeting with the crown prince, said the Pakistan Foreign Office

ISLAMABAD: Prime Minister Imran Khan arrived in Madinah, Saudi Arabia, beginning the initial leg of his first foreign tour since taking office in August.
The premier was welcomed at Madinah Airport by the Governor of Madinah, Faisal bin Salman, Pakistani Ambassador to Saudi Arabia Hasham bin Saddique, and other members of the Pakistani consulate.
Khan, accompanied by Foreign Minister Shah Mehmood Qureshi, Finance Minister Asad Umar, Information Minister Fawad Chaudhry and Adviser for Commerce Abdul Razak Dawood, is also scheduled to perform Umrah during his two-day stay in Saudi Arabia.


“The prime minister will call on His Majesty King Salman bin Abdulaziz and hold a bilateral meeting with the crown prince (His Royal Highness Mohammad Bin Salman). The king will also host a state banquet for the prime minister at the Royal Court. Accompanying ministers will also meet their counterparts to discuss bilateral cooperation,” reads a statement issued by the Foreign Office.
The Secretary-General of the Organization of Islamic Cooperation, Dr. Yousef bin Ahmed Al-Othaimeen, will also call on the PM during his visit.
Although bilateral relations and the regional security situation are on the agenda of Khan’s visit, a more pertinent, urgent priority will be a possible economic bailout package sought from Saudi Arabia by the new Pakistani Government.

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In 2014, six months after Pakistan obtained its last IMF bailout, Saudi Arabia loaned Pakistan $1.5 billion, which the government used to strengthen its currency. Pakistan’s current account deficit increased to 43 percent ($18 billion) in the fiscal year that ended June 30.
Analysts, however, told Reuters that a fresh bailout package from the IMF, which would be Pakistan’s 13th since the late 1980s, is inevitable.

While the Pakistan Tehreek-e-Insaf Government has been debating several options to plug the hole in Pakistan’s rapidly draining foreign exchange reserves, it is also avidly trying to seek financial assistance from allied countries (including Saudi Arabia, China and the UAE) as opposed to going to the IMF.
Before the visit, Finance Minister Asad Umar said that IMF assistance would remain a “fallback option.


Misk Initiatives Center signs 12 deals to develop youth talent

Updated 15 November 2019

Misk Initiatives Center signs 12 deals to develop youth talent

  • MoUs with top firms such as Chinese tech giant Huawei, French oil major Total open new opportunities

RIYADH: The Prince Mohammed bin Salman’s Foundation Misk Initiatives Center has signed 12 memorandums of understanding (MoU) on the sidelines of the Misk Global Forum in Riyadh with local and international companies to support and develop youth talent.

Among the companies were the Chinese tech giant Huawei, the French oil firm Total, the Emirati Federal Youth Authority, and the Ministry of Economy and Planning.

The agreements stipulated joint work between the two parties in the fields of talent development in Saudi Arabia and information and communications technology, in accordance with the National Transformation Program 2020 and the Kingdom’s Vision 2030. 

This initiative aims to find ways of cooperation and employment opportunities between the two parties.

The MoU signed between the center and the Emirati Federal Youth Authority provides for the enhancement of joint cooperation in support of youth. 

The two parties will seek to discuss future cooperation, to build a strategic partnership between the two parties in exploring potential cooperative opportunities and setting a framework for such cooperation, in addition to organizing the exchange of technologies and innovations through the joint organization of courses, forums and workshops.

The MoU aims at creating a specialized scientific dialogue between the two parties, conducting joint research at the institutes in the field of entrepreneurship and the skills of the future, considering launching joint initiatives, and examining the possibilities of cooperative programs based on the extensive experience of Misk and the Federal Youth Authority.

Misk’s Initiatives Center agreement with Total will promote joint cooperation, find training opportunities for Saudi talent at the company’s headquarters and facilities, and cooperate on educational programs that support entrepreneurship and an ecosystem for startup companies, especially in the fields of energy and technology.

The Misk Global Forum also witnessed the signing of a MoU with “Hub71” to promote learning and leadership among Saudi youth, and enhance opportunities for joint collaboration, in addition to two MoUs with 500 startups and seed stars “to promote joint cooperation between the two parties, to develop and grow the business of startups and provide them with the necessary
environment.”

Misk also signed a MoU with the Public Institution for Education and Global Leadership to promote joint cooperation and achieve the objectives of both sides, to support innovation initiatives that instill the entrepreneurial mindset of young people, as well as the establishment and organization of entrepreneurship approaches. 

Both parties agreed to focus on exploring potential collaborative opportunities related to the Entrepreneurship World Cup, and establish a competition with competitors coming from 170 countries.

Both parties also agreed to support international competitions aimed at identifying the best solutions in various fields and sectors, as well as exchanging programs on entrepreneurship and innovation.

The center has signed a MoU with the Saudi Industrial Development Fund to discuss the possibility of providing training programs and courses for the center’s employees of the Fund and the relevant authorities. In addition to discussing available opportunities for cooperative training within the Fund, and providing opportunities for participation and contribution of the Fund’s staff in Misk’s programs.

The MoU aims to explore the benefits of existing agreements between the two parties with international financial and educational institutions, in order to find opportunities that provide programs, training and educational courses, and granting cooperative trainings for Saudi youth in those global institutions.

The center also signed a MoU with the Islamic Educational, Scientific and Cultural Organization (ISESCO), aiming to enhance joint cooperation on educational technology and its integration into the educational systems in the Islamic world.

An MoU with King Abdullah University of Science and Technology (KAUST) will enhance the cooperation between the two parties in several initiatives, including academic development, training, entrepreneurship and innovation programs.

An MoU with Endeavor Saudi Arabia will support the Kingdom’s youth, enhance their talents and potential, stimulate economic growth, and find ways of cooperation between the two parties that serve their common interests.

The center’s MoU with the Ministry of Economy and Planning aims to spread awareness, provide new information on the education and training of human resources in the administrative and economic fields, youth empowerment, and coordinate efforts to raise their abilities.

The MoU aims to create cooperative training opportunities in local and international institutions with the purpose of workforce growth in the Kingdom’s economic sector, contributing to the development of national competencies in the economy, policies and procedures, strategic planning, in addition to providing job opportunities for graduates from areas that serve the interests of both parties and support the achievement of the Kingdom’s Vision 2030.