Riyadh, November 29, 2022, SPA -- King Abdullah University of Science and Technology (KAUST) signed a memorandum of understanding with the Saudi Industrial Development Fund (SIDF) to train members of the fund through two training programmes: a skill program for small and medium enterprises, and the KAUST Academy. The memorandum aims to raise the skills of the local workforce and create new job opportunities for the Saudi youth. By offering more training to improve the abilities of the local workers, the MoU also aims to propel the industrial sector's accelerated expansion. Moreover, due to the shortage in certain areas in the industry, the efforts of KAUST and the Industrial Fund will focus on developing and improving the industrial performance in the country, taking into account increasing productivity and efficiency, and raising the level of skills in the local industry. The KAUST will work with the Industrial Fund to develop and deliver workshops and training plans, in addition to sharing joint use of facilities and capabilities to this objective in order to build the innovative capabilities of small and medium enterprises in the Kingdom. In this regard, KAUST President Prof. Tony Chan affirmed the need for concerted efforts among the relevant national entities and institutions, adding that this MoU will align KAUST's talents and capabilities with the focus areas of the national industrial strategy such as renewable energy sources, chemicals, pharmaceuticals and foodstuffs. For his part, Dr. Ibrahim bin Saad Al Mojil, CEO of the SIDF, stressed the importance of signing the memorandum of understanding with KAUST. --SPA 19:45 LOCAL TIME 16:45 GMT 0021 www.spa.gov.sa/w1820071