Saudi MoU Signed to Develop Labor Force Amid Rapid Industrial Growth

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Saudi Arabia
  • Date: 30-Nov-2022
  • Source: Asharq AL-awsat
  • Sector:Economy
  • Country:Saudi Arabia
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Saudi MoU Signed to Develop Labor Force Amid Rapid Industrial Growth

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King Abdullah University of Science and Technology (KAUST) announced on Tuesday that it signed a Memorandum of Understanding (MoU) with the Saudi Industrial Development Fund (SIDF) to provide training to SIDF members via two programs: the KAUST SME Maharat and the KAUST Academy.

The partnership aims to upskill the local workforce and help create new job opportunities for Saudi youth, according to a statement issued on Tuesday.

Offering further training that supports the industrial sector, the agreement will also advance development, increase exports, diversify income sources, and expand production in Saudi Arabia, in line with the Kingdom’s Vision 2030 goals.

The industrial sector is growing rapidly in Saudi Arabia. This has created an urgent need to provide more training that can cultivate the skills of the local workforce.

Additionally, due to shortages in certain areas of the industry, small and mid-size enterprises (SMEs) also find themselves in need of further training. Human resource development initiatives can address the industrial employee skills gap.

By joining forces, KAUST and SIDF will focus on both developing and improving industrial performance, while also increasing productivity and efficiency and upskilling the local industry.

The two will develop and deliver workshops and training schemes as well as take advantage of shared utilization

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