Saudi Basic Industries Corporation (SABIC) announced that it signed through its initiative Nusaned two memorandums of understanding with Schneider and Orange Business Services in Paris yesterday on the sidelines of the visit currently being paid to the French Republic by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers and Minister of Defense. SABIC Deputy Chairman of Board of Directors and Chief Executive Officer Yousef bin Abdullah Al-Bunyan said in a statement on this occasion, " We are proud in SABIC as we contribute to advancing the national development by supporting the localization of industry in the Kingdom's market and by investing a national initiative such as Nusaned (We Support) which forms today an engine for SABIC's efforts to achieve the objectives of the Kingdom's Vision 2030", noting that the initiative becomes a tool for creating jobs for young people, and supporting small and medium enterprises and entrepreneurship in the Kingdom. The first memorandum of understanding includes working to localize Schneider's products, services and future technologies in line with the requirements of the transformation to smart cities and the transfer of the technologies of the Fourth Industrial Revolution; while the Memorandum of Understanding of Nusaned with Orange provides for creating a set of business models for accelerating smart initiatives, projects and human capital development, launching a joint talent exchange program, providing international best practices in digital transformation, and diversifying means of the partnership between public and private sectors. The two agreements were signed on behalf of SABIC by Vice President for Local Content and Business Development Engineer Fouad Mousa.
