King Abdul Aziz City for Science and Technology and World Economic Forum sign cooperation agreement

The event was attended by Professor Klaus Schwab, founder and chairman of WEF, and Dr. Anas Faris Al-Faris, KACST’s president. (SPA)
Updated 07 November 2019

King Abdul Aziz City for Science and Technology and World Economic Forum sign cooperation agreement

RIYADH: The King Abdul Aziz City for Science and Technology (KACST) signed a cooperation agreement with the World Economic Forum (WEF) to establish a world center for the fourth industrial revolution in the Kingdom. The center aims to enhance cooperation between various sectors to prepare for the necessary requirements, train Saudis so they become pioneers in the field and support the Kingdom’s economic and scientific fields.

This cooperation came on the sidelines of the dialogue session held on Wednesday at KACST’s Headquarters in Riyadh. It focused on launching projects that urge stakeholders in the governmental, private and business sectors, academia and civil society to design and pilot regulations that increase the benefits and limit the risks relevant to the fourth industrial revolution.

The event was attended by Professor Klaus Schwab, founder and chairman of WEF, and Dr. Anas Faris Al-Faris, KACST’s president. It discussed the role of the center in supporting the prospects of regional and international cooperation and the economies of Saudi Arabia and the Arab countries.

The new center seeks to be a global research and executive organization of the fourth industrial revolution that works with the Kingdom’s public and private sectors to develop and pilot practical policies for a flexible governance of some of the revolution’s scientific and technical achievements.

The center provides talented Saudis with training opportunities to raise a generation of pioneers through training and fellowship programs. It also allows the integration of qualified leaders into the network of the fourth industrial revolution centers.

This cooperation will allow the center to direct technical activities towards the Kingdom’s industrial sectors through its participation alongside government officials, corporate leaders, civil society and technical leaders to manage the revolution’s techniques.
 


MoU signed to facilitate investment in Saudi Arabia

Updated 21 February 2020

MoU signed to facilitate investment in Saudi Arabia

RIYADH: The Saudi Arabian General Investment Authority (SAGIA) and the Diriyah Gate Development Authority (DGDA) signed a memorandum of understanding (MoU) to step up cooperation, the Saudi Press Agency reported on Thursday.

Under the MoU, the two authorities will establish a joint working group to boost cooperation in several areas including facilitation provided to investors, conducting economic studies of the market, building partnerships with commercial and industrial bodies and local companies, launching businesses, promoting the ease of doing business, providing logistic support, participating in local and international exhibitions, forums and special visits and exchanging knowledge and information.

All this will predominantly be in aid of attracting local and foreign investors. 

“SAGIA believes in the importance of such cooperation that can unify and multiply the efforts in a way that sets the world’s attention on the Kingdom’s cultural and heritage treasures and investment opportunities,” said SAGIA Gov. Ibrahim Al-Omar.

“This is done through close cooperation with DGDA to highlight these opportunities and market them internationally and locally. This MoU is a step in the right direction to achieve the objectives and directives of both bodies.”

Jerry Inzerillo, CEO of the DGDA, said: “Cooperating with SAGIA is one of the most important international investment motors to attract local and international investments to the Kingdom. This comes at a time where developing the Kingdom’s investment infrastructure is found within the objectives of its Vision 2030.

“At DGDA, we aim at attracting the best technologies and regional and international investments to the Kingdom. This will contribute to the improvement of the local economy and promote our objectives seeking to turn Diriyah into the Kingdom’s gem and an international economic tourist destination,” he added.