Minister of Energy, Industry and Mineral Resources Eng. Khalid bin Abdulaziz Al-Falih, who is also Chairman of the Board of Directors of National Industrial Clusters Development Program (IC), thanked Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud for supporting the development initiatives of energy, industry and mineral resources sector. "The MoU signed with President and CEO of Siemens AG Joe Kaeser aims to develop sustainable industries through the localization of technologies and driving the digital industrial transformation in Saudi Arabia in line with Vision 2030," Eng. Al-Falih said in a statement following the signing of the MoU in the presence of Custodian of the Two Holy Mosques and German Chancellor Angela Merkel. "Signing this MoU is part of the Ministry of Energy, Industry and Mineral Resources plans towards creating new industries in the Kingdom and supporting the localization of technologies and value chain through 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," Eng. Al-Falih said. According to the MoU, 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 EUR 100 million (SAR 400 million) for student development in the fields of digitalization and automation at Saudi Universities. Eng. Al-Falih 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." For his part, Joe Kaeser 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 localization 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."
