Business & Money | Saturday 18 June, 2016 5:59 am |

Prince Muhammad Bin Salman College for Administration and Entrepreneurship will be established at King Abdullah Economic City (KAEC) in Rabigh in collaboration with the American partners who are the world’s leaders in administration and entrepreneurship education. A cooperation agreement has been signed by Muhammad Bin Salman Foundation (Misk Foundation) and King Abdullah Economic City (KAEC) with American giants Babson Global and Lockheed Martin at a ceremony held in the presence of Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense, in Washington.

The agreement was signed by Bader Al-Askar, secretary general of Misk Foundation, Fahd Al-Rasheed, executive president of KAEC and vice chairman of the board of trustees of Prince Muhammad Bin Salman College for Administration and Entrepreneurship, and Babson President Dr. Kerry Healey, the Saudi Press Agency reported.

Establishment of the college, regarded as the first fruit of partnership between Misk Foundation and KAEC, is compatible with the Deputy Crown Prince’s vision in developing educational and cultural standards of young Saudis.
It also keeps pace with the Saudi leadership’s aspirations toward achieving the Kingdom’s Vision 2030 with regard to developing quality education so as to boost the economy and bridge the gap between output of higher education and requirements of the labor market. The college is also set to support small and medium enterprises (SMEs) as one of engines of the economic growth that contributes to job creation and supportive for innovation.

The college is the Kingdom’s first educational institution providing university degrees and postgraduate courses in entrepreneurship. Babson Global, which is the first US college of entrepreneurship education, and Lockheed Martin, one of the companies of the economic balance program, will provide their educational experiences and expertise in the higher education in accordance with innovative methodology in education and application.