Saudi Aramco has signed today a memorandum of understanding (MoU) with Saudi Industrial Property Authority "Modon", to enhance joint collaboration in developing Industrial Cities and empower local communities and women's work in the Industrial Cities in order to contribute to the achievement of Kingdom Vision 2030 and the objectives of the National Transition Program 2020.

The memorandum of Understanding, which was signed, by Aramco Vice President, Nasser Al Nafisi and Modon's General Manager, Khalid Al Salem in the Authority headquarter in Riyadh. To contribute to enabling both sides to provide development projects to strengthen the economy of industrial cities by availing from the rich natural resources and the comparative advantages that are specific to the various regions of the Kingdom. The memorandum also seeks to localize the industries through development projects that have high quality products that positively affect the Kingdom's GDP, create new job opportunities, and develops an environment conducive to women's work, persons with disabilities and those with limited income. The memo stated that Saudi Aramco would undertake the preparation of capital budgeting studies and work plans for the establishment and development of projects, identify partners who will cooperate, and provide the proposed designs for the necessary facilities. Modon will in turn provides sites for the proposed projects in the industrial cities, in addition to the appropriate incentives, and overcoming all difficulties that may hinder the start of its activities.

Nasser Al Nafisi stated on this occasion: "The signing of this memorandum is part of a concerted effort to contribute to making a positive impact on the development of our society, and the work of partnerships that contribute to the empowerment of the targeted community groups, and the provision of services and infrastructure, such as training, employment, machinery and equipment. Al-Nafisi added that the main strategies of localization in Saudi Aramco are based on the principle of empowerment through a series of initiatives that are in line with the objectives of Saudi Arabia Vision 2030. Therefore, we continue to assess needs, provide solutions and create economic opportunities based on the competitive advantages of different regions of the Kingdom. For his part, Eng. Khaled Al-Salem stated "The agreement with Saudi Aramco is part of the objectives and strategies of "Modon" which includes cooperation and creating effective partnerships with the public and private sectors, in order to strengthen its role towards the homeland and society and enhance its social responsibility as a key partner in supporting the development process and the national economy. Its efforts to contribute to the implementation of the National Transformation Program Plan and to achieve the Kingdom's Vision 2030 ". Eng. Al-Salem clarified that the agreement contributes to the provision of community partnership services and the promotes a sustainable impact, and develops nursery services and care for the children of beneficiaries and the children of worker women's in the industrial cities, and contributes to the provision of technical advisory and logistical support for projects emanating from the memorandum to benefit from experts and specialists staff on both sides of the programs and initiatives and joint activities emanating from them.

 Last modified 23 Apr 2019
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