Saudi Arabia’s Ministry of Economy and Planning has signed a memorandum of understanding (MoU) with Alfaisal University to promote economic development and implement awareness programs and initiatives to serve the community.
This move is part of achieving Saudi Vision 2030 goals. The signing of the agreement took place at the university’s headquarters in Riyadh.
The MoU was signed by Mr. Rakan bin Abdullah Al Alsheikh, Deputy Minister for Policies and Economic Planning at the Ministry of Economy and Planning, and Princess Dr. Maha bint Meshari Al Saud, the Alfaisal University Vice President of External Relations and Advancement.
Under the MoU, the two parties will cooperate to promote economic development, activate academic research, implement awareness programs and initiatives to serve the community, as well as cooperate on various activities and events.
Further, the MoU stipulates that the two sides cooperate to maximize the university’s economic return, form a network of joint opinion experts to provide feedback on various economic topics, and exchange experiences in preparing and writing academic research and public policies in the field of economics.
As per the statement, the Ministry of Economy and Planning will provide consultations on the use of university resources such as student research, faculty members, and research laboratories on economic priority topics that support Saudi Vision 2030. It will offer facilities and cooperation in designing and formulating research project launch plans, and supervise a team of researchers from both sides, which will be assigned to prepare public policy studies and academic research for the Ministry.