Business & Money | Tuesday 2 August, 2016 1:20 pm |

GE (NYSE: GE) today signed a Memorandum of Understanding (MoU) with Prince Mohammed bin Salman bin Abdulaziz Al-Saud Foundation (MiSK) in the field of education and training, to design and launch training programs for young Saudi professionals and executives.

 

As part of Saudi government’s efforts to establish a knowledge-based economy and develop the skills of Nationals, the MoU outlines the terms to put together special training programs for the leadership development of young Saudi professionals as well as provide consultancy. 

 

The MoU was signed at a ceremony at GE’s Crotonville facilities by Nidal Ghizawi, Director of the GE Saudi Technology & Innovation Center, and Bader Al-Asaker, Secretary General of MiSK Foundation. 

 

Under the MoU, GE will offer access for Saudi professionals to high-level corporate leadership training at the GE Crotonville Customer Education facility in the US. Special courses will be developed for Saudi executives for delivery either in Crotonville or in various locations across Saudi Arabia. GE will also support MiSK and other entities to establish a Crotonville-like Saudi Leadership Academy in the Kingdom. 

 

Hisham Al-Bahkali, GE’s President & CEO for Saudi Arabia and Bahrain, said: “The agreement with MiSK has strategic importance in nurturing the next generation of Saudi business leaders, who can contribute to achieving the goals of Saudi Vision 2030. Saudi Arabia has a wealth of young talent, and by building their skillsets in specific domains including corporate leadership, we are supporting the Kingdom’s goal to accelerate economic and industrial diversification. This will also help in creating high quality jobs for Saudi young professionals and in building an entrepreneurial ecosystem in Saudi Arabia to help achieve transformational growth.”

 

The signing of this MoU builds on the efforts of MiSK to partner with various organizations and international institutions, to provide young Saudi professionals with expertise and experience as per international best practices.

 

A non-profit organization, MiSK aims to deliver dedicated training to build the leadership skills among young Saudi professionals for a better future of the Kingdom, and works on initiatives that enhance the creative talent and energy of Saudi youth, and ensure a positive and nurturing environment for their development.

 

Often described as the epicenter of GE culture, Crotonville is where GE defines its state of-the-art leadership, shares ideas with the most influential thinkers in academia and business, and creates transformative learning experiences to inspire, connect and develop GE leaders of today and tomorrow. 

 

Founded in 1956, Crotonville is the world’s first major corporate university. The 59-acre main campus in New York, USA, hosts thousands of GE employees and customers each year. 

 

GE’s series of initiatives support economic and industrial diversification, the creation of quality jobs for Saudi nationals, human capital development as well as productivity and efficiency enhancements across various business sectors. These build on the US$1 billion investment delivered by the company in the past three years in Saudi Arabia. GE aims to double its workforce in the Kingdom from 2,000 to 4,000 by 2020, and also double leadership, technical and engineering training across sectors to over 10,000 Saudi professionals through local and global programs. 

 

With a presence of over 80 years, three offices and seven facilities, Saudi Arabia accounts for the largest GE workforce in the Middle East with over 2,000 employees driving the Aviation, Healthcare, Oil & Gas, Power & Water and Transportation businesses.