In the presence of the Custodian of the Two Holy Mosques King Salman and Chancellor of the Federal Republic of Germany Angela Merkel, Khalid Al-Falih, minister of energy, industry and mineral resources, in his capacity as chairman of the Board of Directors of National Industrial Clusters Development Program (NICDP), signed an MoU with Joe Kaeser, president and CEO of Siemens AG. The MoU aims to develop sustainable industries through the localization of technologies and driving the digital industrial transformation in Saudi Arabia in line with Vision 2030. The MoU is part of NICDP's plans toward 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 (SR400 million) for student development in the fields of digitalization 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." Arja Talakar, CEO of Siemens Saudi Arabia 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." For close to a century, Siemens has been significantly contributing to the development of Saudi Arabia's infrastructure by delivering innovative solutions to its customers, partners and the society. Today, with almost 2,000 employees, along with our shareholders and our long-term partner E.A. Juffali and Brothers, we continue to deliver on our pledge of contributing to the development of Saudi Arabia." — SG
