Saudi Arabia's General Investment Authority (SAGIA) launched the second edition of Saudi Transformation Program (STP), which aims to train fresh graduates in collaboration with the best international companies.
On Thursday, the first batch of STP students graduated during a ceremony attended by SAGIA governor, Ibrahim al-Omar.
Deputy Governor for Shared Services, Faraj Al Monajam, said that the Authority launched the new program for the second consecutive year, following a successful first edition.
Monajam indicated that the 25 newly graduated students in various engineering majors were trained in various areas including: finance, marketing, law and information technology, noting that the program is part of the Authority's plans to provide opportunities for Saudi youth to serve their country in all fields.
The program will be implemented on an annual basis and will be continuously developed to enroll new members of various specialties to SAGIA’s team and in line with its approach to adopt initiatives that contribute to Vision 2030, announced Monajam.
Deputy Governor explained that the program includes training courses for STP members while they are working within SAGIA, and with international companies outside the country for a period of 9-months which ends with recruitment to the General Authority.
Concerning the admission criteria for the program, Monajam confirmed that the program is available to Saudi citizens who have Bachelor degree or Master degree in various majors, such as: Industrial Engineering, Mechanical Engineering, Civil Engineering, Business Administration, Master of Business Administration, Finance, Electrical Engineering, Renewable Engineering, Medicinae Doctor, Materials Science and Engineering, Pharmacy, Management Technologies, Operation Management. The applicant must also be fluent in English.
Recently, SAGIA signed a cooperation agreement with Baker Hughes, a subsidiary of the US General Electric, to train fresh graduates of STP. The agreement included the transfer of competencies for direct on-the-job training for six months at the company's main offices in the United States and Britain.
This will enable Saudi nationals to benefit from working experience of international companies, especially since one of the most important roles assigned to them after training is to attract international companies to invest in the Kingdom and develop investment opportunities, in line with the needs of these companies.
During this year's Future Investment Initiative, 30 agreements of an estimated value of $66.6 billion were signed, given that recently, Saudi business environment has attracted investments in promising sectors.
The increased investment opportunities were attributed to certain measures including: issuing a five-year license for foreign investments, adopting immediate licenses, reducing the exemption list of foreign investments, and activating the e-services portal to facilitate investors’ work.
