Cultural Assets Group and IN4 Group Announce New Venture
Cultural Assets Group and IN4 Group have recently solidified their partnership by signing a significant agreement to create the joint venture "Madinat Al Maharat". This milestone was unveiled at the GREAT FUTURES summit, emphasizing the commitment of both groups to nurturing and developing the creative and technological workforce in Saudi Arabia.
About the Joint Venture
The newly established venture, "Madinat Al Maharat", aims to serve as a national vocational training provider. This initiative is designed to develop a robust workforce skilled in creative fields and advanced technologies. With endorsement from the Technical and Vocational Training Corporation (TVTC) as well as the Human Resources Development Fund (HRDF), the joint venture plans to deliver training programs that adhere to internationally recognized standards.
Goals and Vision
The primary goal for the first year is to train 50 participants, with an ambitious plan to grow this number to 500 by 2027. This initiative is particularly geared towards empowering Saudi youth, providing them with the requisite skills to excel in high-value careers within the creative and technology sectors. By offering hands-on learning experiences alongside accredited professional training, the venture aspires to elevate the future workforce.
Summit Highlights and Attendees
The announcement took place during a notable summit attended by esteemed individuals such as H.E. Dr. Majid Al-Kassabi, the Saudi Minister of Commerce, alongside The Rt Hon Jonathan Reynolds MP, UK Secretary of State for Business and Trade. The event saw a strong turnout from government officials, investors, and business leaders from both the UK and Saudi Arabia. Notably, the Saudi delegation included representatives from the Ministry of Commerce, which facilitated business meetings and highlighted investment opportunities between the two nations.
Remarks on the Partnership
During the summit, Abdulaziz bin Musaed AlSulaim, CEO of Cultural Assets Group, expressed that this partnership underscores their commitment to building a sustainable cultural economy and enhancing national capabilities in this sector. He explained that the venture is crucial for equipping young Saudis with unparalleled skills, allowing them to design and offer distinctive cultural experiences on a global scale.
Mo Isap, CEO of IN4 Group, also shared insights about the joint venture. He noted that "Madinat Al Maharat" will not only be pivotal in delivering apprenticeship opportunities in the region but will also reflect IN4's ongoing efforts in Saudi Arabia. By ensuring equitable access to technology training, the venture is set to provide transformative opportunities for local talent.
The Bigger Picture and Vision 2030
This agreement serves as a practical model of international collaboration, harmonizing global expertise with local ambition. It aligns with the objectives set forth in Saudi Vision 2030, creating new avenues for investment and development in the creative and technological sectors of the Kingdom. The integration of extensive training programs signifies a move towards enriching the nation's creative human capital.
About Cultural Assets Group
Cultural Assets Group stands as the largest privately-owned entity focused on cultural and creative initiatives in Saudi Arabia. Their mission revolves around shaping the country's cultural trajectory through strategic investments and innovations. By managing a diverse portfolio encompassing various cultural enterprises, the group aims to foster an environment where creativity and capital converge to stimulate sustainable cultural advancement.
About IN4 Group
IN4 Group is recognized globally as a premier technology training and skill provider, with extensive operations in both the United Kingdom and Middle Eastern regions. They concentrate on unlocking local talent potential to enhance productivity and prosperity within industries and communities. Their mission underscores the importance of equitable access to technology, striving to create a culture of belonging and connection through technological advancements.
Frequently Asked Questions
What is the purpose of the "Madinat Al Maharat" joint venture?
The joint venture aims to provide vocational training in creative and technology sectors, fostering a skilled workforce in Saudi Arabia.
Who are the key stakeholders involved in this agreement?
The partnership involves Cultural Assets Group and IN4 Group, with endorsements from key bodies like the TVTC and HRDF.
What are the expected outcomes of this training program?
The program aims to empower 50 participants in the first year, with plans to expand to 500 participants by 2027.
How does this initiative align with Saudi Vision 2030?
This effort supports Saudi Vision 2030 by developing human capital and promoting investment in the creative sector.
Where can I learn more about Cultural Assets Group and IN4 Group?
More information can be accessed through their respective websites and media updates regarding their initiatives.
