A Memorandum of Understanding was signed here recently to upgrade and develop knowledge industry in the Kingdom and establish a training center for King Abdullah Economic City (KAEC) products. The MoU was signed by King Abdul Aziz City for Science and Technology (KACST), Saudi Arabian General Investment Authority (SAGIA) and Emaar Company, the developer for King Abdullah Economic City (KAEC). SAGIA will work with KACST to specify the specializations of the training center to be called the Center for Technological Innovation. The center is expected to be inaugurated during the first quarter of 2010. It will have a department for environmental protection with the aim of implementing the vision of King Abdullah. This will be achieved through scientific research and developmental activities in fields like environmental pollution, environmental technology, environmental hazards and combating desertification. Emaar will host KACST within the area allocated for the center according to an agreement between the two parties. Each party will discuss and approve the development plan for the project, the guiding principles for the Center for Technological Innovation and the major performance indices. The agreement signed among the three parties will contribute in providing more investment opportunities and incentives. The MoU was signed by Dr. Muhammad Bin Ibrahim Al-Swayyil, President of KACST, Amr Bin Abdullah Dabbagh, Governor of SAGIA, and Fahd Bin Abdul Mohsin Al-Rasheed, Chairman of the Board of Directors and CEO of Emaar. – Okaz __
