Siemens, a global technology powerhouse, has signed a deal with National Industrial Clusters Development Program (IC) to develop sustainable industries through localisation of technologies in Saudi Arabia in line with Vision 2030.
The MoU bolsters Siemens’ strong commitment to achieve the goals of Vision 2030, said the company in a statement.
The agreement aims to develop sustainable industries through the localization of technologies and driving the digital industrial transformation in Saudi Arabia in line with Vision 2030, it stated.
Khalid Al Falih, Minister of Energy, Industry and Mineral Resources, in his capacity as chairman of the board of directors of IC, signed an MoU with Joe Kaeser, the president and CEO of Siemens in the presence of Saudi Arabia's King Salman bin Abdulaziz Al Saud and German Chancellor Angela Merkel who is on a visit to the kingdom.
The MoU is part of NICDP’s plans towards creating new industries and supporting the localization of technologies and value chains.
The objective will be achieved by supporting economic growth, enabling know-how and technology transfer, increasing foreign direct investment (FDI) and creating high-skilled training and employment opportunities in line with the goals of Saudi Arabia’s Vision 2030.
Furthermore, Siemens and its partners will build capabilities among Saudi students to prepare them for the Fourth Industrial Revolution, whereas Siemens is looking at investing over €100 million ($109 million) for student development in the fields of digitalisation and automation at Saudi Universities.
Speaking at the signing ceremony, Al Falih reiterated his trust in Siemens as a long-term partner towards achieving Vision 2030, and said: "In order for us to achieve the objectives of Vision 2030, we must focus on the sustainable development of industries in Saudi Arabia, while acknowledging the importance of localization of technologies and the development of local talent."
"We are looking forward to our continuous and close partnership with Siemens, who is globally recognized as one of the leaders in industrial development, digitalization and automation," he noted.
Siemens Saudi Arabia Arja Talakar said: "Siemens has been a partner to Saudi Arabia for the past 90 years and we are proud of our rich heritage in the kingdom. We truly believe that the localisation of skills and technology is part of the core foundation of our successful partnership."
"We look forward to our continuous close cooperation with NICDP towards achieving the goals of the Kingdom’s Vision 2030," he added.