Time: March 25, 2018
Saudi Crown Prince Mohammed bin Salman signed a series of partnership agreements bringing together the US and Saudi economies, educational and research institutions in fields of technology, energy, healthcare and others.
After five days of talks with US officials in Washington, the Saudi crown prince visited research institutions developing artificial intelligence and technology, notably the Massachusetts Institute of Technology (MIT), one of the world’s top universities.
Crown Prince Mohammed sponsored the signing of scientific and technological cooperation agreements on the sidelines of MIT’s 2018 Innovation to Impact Forum, most notably a partnership collaborating on Saudi Arabia’s $500 billion mega-city NEOM.
NEOM is dubbed ‘Destination of the Future’.
The partnership includes joint researches, student exchange and entrepreneurship programs.
Before leaving Washington for Boston, Crown Prince Mohammed reviewed Saudi Arabia’s Vision 2030 and its economic, social and developmental initiatives and reforms to diversify the Saudi economy in two separate Saturday meetings with International Monetary Fund Director Christine Lagarde, and World Bank President Jim Yong Kim.
More so, the Kingdom’s Vision 2030 aims at boosting investment in technology and human resources.
At the meeting, Crown Prince Mohammad also met a number of former US officials.
“Thanks to Vision 2030, the Kingdom is moving towards a promising future. A key element of this strategy involves building collaborative relationships around the world, including with leading universities, hospitals and corporations in Greater Boston, and MIT is pleased to bring this impressive group together for this year’s Innovation to Impact Forum,” said MIT President L. Rafael Reif.
“Today, as we hear from our Saudi guests about their aspirations and their progress, and as we showcase the strength of our region’s innovation ecosystem, we are delighted to commit to further opportunities for creative and mutually beneficial collaborations on important technology and societal issues,” he added.
On the other hand, Aramco Services Company (ASC), the North American arm of Saudi Aramco, and the Massachusetts Institute of Technology (MIT) entered into a new five-year $25 million collaboration, targeting new research and development (R&D) in fields including sustainable and renewable energy; advanced materials; carbon capture, and utilization and storage.
“We are delighted to be collaborating with MIT which is a distinguished, world-class institution recognized for its groundbreaking research excellence,” said Saudi Aramco President and CEO, Amin Nasser.
“Our engagement with the MIT Energy Initiative is working well and the long-term potential for continuing to make significant energy technology breakthroughs is showing considerable promise,” he added.