Jeddah Chamber of Commerce Creates Investment Opportunities in SMEs

The Jeddah Chamber of Commerce and Industry signed a MoU with KAUST to create investment opportunities in the field of SMEs.
The Jeddah Chamber of Commerce and Industry signed a MoU with KAUST to create investment opportunities in the field of SMEs.
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Jeddah Chamber of Commerce Creates Investment Opportunities in SMEs

The Jeddah Chamber of Commerce and Industry signed a MoU with KAUST to create investment opportunities in the field of SMEs.
The Jeddah Chamber of Commerce and Industry signed a MoU with KAUST to create investment opportunities in the field of SMEs.

The Jeddah Chamber of Commerce and Industry signed on Monday a MoU with King Abdullah University of Science and Technology (KAUST) to create investment opportunities in the field of SMEs, build the digital transformation strategy and develop artificial intelligence.

The KAUST delegation at the signing event was chaired by Vice President of Innovation and Economic Development at the university, Kevin Cullen.

Chairman of the Board of Directors of the Jeddah Chamber Mohammed bin Yousuf Naghi said the future is focused on investment in the knowledge-based economy in the Kingdom.

He noted that the Chamber is an active channel and a bridge to communicate with the private sector, highlighting the successful experiences of KAUST in entrepreneurship and emerging firms.

The chairman further added that there are four sectoral councils at the Chamber that share the university’s strategy.

They are the Councils of Industry, Education and Training, Tourism and Culture, and Urban Development.



Saudi Arabia, Canada Discuss Smart Industrial Cities

The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA
The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA
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Saudi Arabia, Canada Discuss Smart Industrial Cities

The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA
The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has discussed with Canadian government ministers ways to bolster industrial and mining cooperation between the two countries, opportunities for developing industrial innovation, and building an effective partnership to establish smart industrial cities in the Kingdom by leveraging Canadian expertise.

During his meeting with Canadian Minister of Innovation, Science and Industry François-Philippe Champagne, and accompanied by National Industrial Development Center Chief Executive Saleh AlSulami, Alkhorayef underscored the Kingdom's commitment to benefiting from the applications of the Fourth Industrial Revolution, particularly artificial intelligence (AI) and robotics, to develop the industrial sector and create added value, while improving production efficiency in industrial facilities.

Meeting participants discussed enhancing cooperation in the field of industrial digitization, utilizing AI technologies to improve industrial processes, and exploring opportunities for collaboration in building smart industrial cities in the Kingdom, benefiting from Canadian advancements in digital infrastructure.

The two sides also discussed collaboration between the Kingdom and Canada in the field of innovation, including the partnership between the Saudi Ministry of Education and Metax, a Canadian research organization funded by the Ministry of Innovation, Science and Industry with a focus on providing joint research opportunities for graduate and doctoral students in both countries.

During a meeting with Canadian Minister of International Development Ahmed Hussen, Alkhorayef discussed ways to enhance economic relations and non-oil trade between the two countries, given the fact that the Kingdom is the largest trading partner for Canada in the Middle East and North Africa. The ministers reviewed the role of industrial development globally in advancing communities, increasing their well-being, and improving individuals' living standards.

Alkhorayef and Canada's Mining Industry Human Resources Council (MIHR) executive director Ryan Montpellier discussed opportunities to benefit from council's expertise in workforce human capabilities development strategies in the mining sector.

The meetings held by the Minister of Industry and Mineral Resources with Canadian ministers are part of his visit to Canada, aimed at strengthening industrial and mining cooperation between the two countries, exploring mutual opportunities in both sectors, and attracting foreign investments to the Kingdom.