GE announces new partnerships & investments to support Saudi Vision 2030

GE (NYSE: GE) today announced new strategic partnerships and localization initiatives that support the goals of the Saudi Vision 2030 approved by the Custodian of the Two Holy Mosques HRH King Salman bin AbdulAziz Al-Saud and endorsed by the Saudi Cabinet.
Aimed at supporting the transformational growth of the Kingdom, and in line with the strategic vision document announced by HRH Deputy Crown Prince Mohammed bin Salman Al-Saud, the new initiatives support economic & industrial diversification, the creation of quality jobs for Saudi nationals, human capital development as well as productivity and efficiency enhancement across the energy, aviation, healthcare and digital sectors.
The initiatives were announced by GE’s Chairman & CEO Jeffrey Immelt during his visit to the Kingdom where he underlined GE’s commitment to Saudi Arabia’s socio-economic progress under the new development strategy, which aims to position the country as a strategic global hub that serves the three continents of Asia, Africa and Europe.
Jeffrey Immelt said:

“We are a committed partner in supporting the Kingdom’s transformational and diversified growth, underscored by our 80 years of presence in Saudi Arabia. Our roots are deep, and today with our partners, we are growing in a new and visionary way. Together, we will create quality jobs for Saudi youth, help build a robust SME chain, boost exports, enhance economic competitiveness, and support the vision and aspirations of Saudi Arabia. New sustainable and equitable opportunities as well as strong business outcomes will flourish under these initiatives.”

Deepening its partnerships to help achieve the goals of Saudi Vision 2030, GE is collaborating with the Saudi Arabian Industrial Investments Company (SAIIC) to develop joint ventures that will expand and localize industrial value chains in Saudi Arabia, to serve the domestic market and beyond.
GE is also partnering with Saudi Aramco, Cividale SpA, Middle East Propulsion Company (MEPC), Saudi Industrial Property Authority (MODON), Prince Mohammed bin Salman bin Abdulaziz Al-Saud Foundation (MiSK), Asharqia Chamber, National Industrial Clusters Development Program (NICDP), Dr. Sulaiman Al Habib Medical Group (HMG) and SaudiVax in the new initiatives.
Read: The key initiatives to support the goals of Saudi Vision 2030:
Source: GE
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