Saudi Arabia, WEF partner to set up Centre for Fourth Industrial Revolution

Photos courtesy of Saudi Press Agency (SPA)

Saudi Arabia and the World Economic Forum (WEF) have signed an agreement to establish a branch in the Kingdom of WEF's Centre for the Fourth Industrial Revolution, the fifth such center in the world, the Center for International Communication (CIC) said in a statement on Wednesday.

The agreement was signed between Mohammed Al-Tuwaijri, the Minister of Economy and Planning, and Professor Klaus Schwab, the Founder and Executive Chairman of the WEF on Wednesday.

This agreement marks the beginning of cooperation between WEF and the King Abdulaziz City for Science and Technology (KACST) with the support and coordination of the Saudi Center for International Strategic Partnerships (SCISP), CIC statement added.

KACST will manage the Centre for the Fourth Industrial Revolution in cooperation with WEF.

The statement further added that the Center will provide space for the development of the mechanisms, plans and applications of the Fourth Industrial Revolution in the Kingdom.

It will also contribute to the adoption of technology and best practices in the region and the world.

CIC said this cooperation will bring the Kingdom into the global Fourth Industrial Revolution network with countries such as India, China and Japan.