Investment deals worth SR2.9bn signed for Saudi education sector

Saudi investment chiefs have joined forces with a leading schools’ operator in the Kingdom to help promote investment opportunities in the education system. (SPA)
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Updated 18 January 2020

Investment deals worth SR2.9bn signed for Saudi education sector

  • SAGIA signed a cooperation agreement with Al-Motaqadimah Schools
  • SR193 billion was allocated to education in the 2020 Saudi national budget

RIYADH: Saudi investment chiefs have joined forces with a leading schools’ operator in the Kingdom to help promote investment opportunities in the education system.
The Saudi Arabian General Investment Authority (SAGIA) signed a cooperation agreement with Al-Motaqadimah Schools Co. (MSC) to develop and market opportunities for investment and work to activate them in cooperation with relevant authorities.
MSC penned investment and cooperation deals in the education sector worth SR2.9 billion ($772 million) through the “Invest in Saudi Arabia” platform.
They included a cooperation agreement with real estate developer Tatweer Buildings Co. (TBC) to construct, operate and maintain 58 educational complexes over three academic years in the Kingdom, with a capacity of 70,000 students, which would contribute to creating 5,000 jobs.
It also signed an accord with Asma Capital to establish an investment company, a cooperation agreement with Adem Capital to issue initial instruments worth SR1 billion for the Kingdom’s first services company, and a cooperation deal with Google for Education to support the Internet giant’s expansion plans in the Saudi market.
The signing of the agreements came during a ceremony organized by SAGIA at its headquarters in Riyadh, and attended by SAGIA Gov. Ibrahim Al-Omar, representatives of the companies investing in the education sector and a number of officials from relevant government bodies.
SAGIA works to invest in the education system in cooperation and integration with other relevant organizations to promote private-sector investment in the growing field of education.
According to SAGIA statistics, the total number of licenses issued in the education sector in 2019 was 100 percent more than the previous year.
SR193 billion was allocated to education in the 2020 Saudi national budget.


Saudi health minister promises to procure tested COVID-19 vaccine

Saudi Health Minister Tawfiq Al-Rabiah. (AP)
Updated 20 October 2020

Saudi health minister promises to procure tested COVID-19 vaccine

JEDDAH: Saudi Health Minister Tawfiq Al-Rabiah on Monday said the Kingdom will procure vaccine for the novel coronavirus once it is confirmed to be safe and effective.

He said research on the vaccine is underway in a number of countries and the Saudi health authorities are following the developments.
The number of coronavirus disease (COVID-19) cases continues to decline in the Kingdom with the recovery rate from the illness rising to 96 percent. The minister attributed the decline on the “commitment to health precautions.”
“I also thank my fellow health practitioners for their wonderful efforts,” Al-Rabiah said.
Commenting on the second and stronger wave of COVID-19 in some countries, he said it was due to a lack of “commitment to social distancing” and failure to wear masks and taking other precautions.
He ruled out any leniency on part of the government in its fight against the virus. The minister said it is necessary to abide by precautionary measures to keep the virus at bay.

FASTFACTS

• Saudi Arabia recorded 381 new infections on Monday.

• With 16 new fatalities, the virus-related death toll has risen to 5,201.

“We (all) are in one boat, and the failure of some affects everyone, so we must work together” to check the spread of the virus.
He also advised people who show COVID-19 symptoms to visit Tetamman (rest assured) clinics.
“Appointments can be made through the ministry’s Sehaty app, and anyone who has any questions or wants to consult a doctor can call 937,” the minister said.
Saudi Arabia recorded 381 new infections on Monday. The total number of COVID-19 cases has reached 348,583 since the beginning of the outbreak in the Kingdom.
The Health Ministry said 16 more people died due to complications caused by the virus raising the death toll to 5,201. The ministry also reported 357 new recoveries. The total number of recovered cases has now increased to 328,895.