RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology, medicine, financial services, education and training on the sidelines of the seventh edition of the Future of Investment Initiative Conference here.
The MoUs were signed in the presence of the Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih.
The MoUs related to the biotechnology and pharmaceutical sectors aim to explore, develop, manufacture and market a range of potential new medicines in neurology, neuropsychiatry, specialized immunology and rare diseases.
The MoU of the financial services sector aims to provide an opportunity for investors to invest directly in key projects in line with the Saudi Vision 2030 and broader economic development initiatives in the Kingdom.
In the education and training sector, the MoU promotes cooperation in education at all levels and strengthens the capacity of teachers through professional development programs and investment in ancillary services.
With support from the Ministry of Investment, King Faisal Specialized Hospital and the Research Center have signed an MoU in entrepreneurship and innovation.
AlMadar AlUla for Engineering Consultancy signed a MoU in the engineering consulting sector.
The Ministry of Investment is taking part in the exhibition accompanying the FII7 conference, highlighting aspects of the development of the business environment in the Kingdom to reflect the aspiration towards economic openness to attract investments.
It would also facilitate access for investors seeking investment opportunities, introduce investment opportunities and enhance investment sustainability in various sectors.