KAUST is at the forefront of sustainable development in Saudi Arabia, says Byrne

KAUST President Edward Byrne explained that KAUST conducts its research in partnership with both government and commercial entities. AN photo
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Updated 29 October 2024
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KAUST is at the forefront of sustainable development in Saudi Arabia, says Byrne

RIYADH: King Abdullah University of Science and Technology places a strong emphasis on sustainability, actively advancing carbon capture initiatives and coral reef protection in Saudi Arabia, according to its president.

Speaking to Arab News on the sidelines of the Future Investment Initiative event, Edward Byrne highlighted KAUST’s role in attracting foreign direct investments into the Kingdom through its research and development efforts.

“Sustainable development is at the heart of KAUST. There are incredibly exciting projects underway in a whole range of areas. But the work at KAUST, led by Carlos Duarte and his colleagues, is rejuvenating the fantastic coral reefs in the Red Sea with great success,” Byrne stated.

He further expressed enthusiasm for the university’s collaboration with Aramco on carbon capture, noting, “I am also very excited about the carbon capture work with Aramco, which is showing huge promise. We’re going to need more fossil fuel for many years, so I think this is really important for the environment.”

Byrne also mentioned KAUST’s expertise in sophisticated supercomputing, which will aid the Kingdom in managing large data sets. In November, KAUST unveiled Shaheen III, described as the most powerful supercomputer in the Middle East, according to the TOP500 report, which tracks supercomputer performance. This system is anticipated to play a crucial role in developing and testing predictive mathematical models.

Discussing how KAUST contributes to Saudi Arabia’s economic growth through foreign direct investment and partnerships, Byrne said: “You can’t build a solid house without bricks. And the scientific advances in KAUST are some of the major bricks. It will help build the economy of the nation. Our job now is to translate that brilliant science in so many areas—water, agriculture, health, environment, energy — into new companies, into new businesses for the Kingdom, and we are on the journey.”

Byrne emphasized that KAUST is a leading research powerhouse, translating its efforts into practical outcomes in vital areas for the Kingdom, including human health, innovative desalination methods, and genetically modified crops.

He explained that KAUST conducts its research in partnership with both government and commercial entities. “KAUST cannot do things in isolation. Many have been done in partnership with government departments in Saudi Arabia, but many have been done in commercial partnerships, both with large companies like Aramco, who are still our number one commercial partner, and with many spinoffs. There are over 400 spinoffs now operating in the Kingdom in all of these areas,” Byrne noted.

Additionally, the KAUST president highlighted the university's role in strengthening the private sector in Saudi Arabia by encouraging young graduates to become entrepreneurs. He mentioned that KAUST is equipping students with advanced technologies, including artificial intelligence, to meet the demands of the modern workforce.

“Even employers don’t fully understand the skill set that people will need, and the knowledge base they will need ten years from now in their industries. So, we are working to help understand that, unravel it, so we can make sure that Saudi Arabia is on the crest of the wave in how we’re educating our young people here,” Byrne said.


Finance minister announces launch of National Privatization Strategy

Updated 11 sec ago
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Finance minister announces launch of National Privatization Strategy

RIYADH: Saudi Arabia’s Minister of Finance and Chairman of the National Center for Privatization Mohammed bin Abdullah Al-Jadaan highlighted the Council of Economic and Development Affairs’ approval to conclude the Kingdom’s privatization program, noting that it had successfully completed its initiatives in line with the approved plan.

Al-Jadaan explained that since its launch, the privatization program has achieved a number of milestones, most notably the establishment of the NCP, which has created over 200 approved projects with total investments estimated at SR800 billion ($213.4 billion).

The program, he added, has also facilitated the signing of nearly 90 contracts, ranging from ownership transfer agreements to public-private partnership deals across multiple sectors.

In addition, it has contributed to strengthening the role of the private sector, improving the efficiency of government asset operations, and developing a legislative and regulatory environment that supports investment, thereby promoting economic diversification and enhancing the Kingdom’s competitiveness.

The minister announced the launch of the National Privatization Strategy, which was approved by the Council of Ministers on Nov. 25.

The initiative aims to enhance the quality and efficiency of infrastructure, improve public services for the Kingdom’s residents, strengthen the private sector’s role in sustainable economic development, and enable the government to focus on its legislative, supervisory, and regulatory functions, while reinforcing financial sustainability, all in line with the country’s Vision 2030.

Al-Jadaan said: “Saudi Arabia seeks to establish a high-quality, efficient future infrastructure capable of delivering world-class public services to citizens, residents, and visitors, while reinforcing the Kingdom’s position as a global reference in public-private partnerships.”

The strategy aims to raise satisfaction levels with public services across 18 target sectors, create tens of thousands of specialized jobs, exceed 220 public-private partnership contracts by 2030, and increase private sector capital investments to more than SR240 billion by 2030.

The NPS has established five main programs to empower and advance the privatization system, along with 42 executive initiatives to achieve its objectives and the Vision 2030 targets related to privatization.

It also includes an executive program dedicated to identifying and prioritizing key privatization opportunities, with over 145 high-priority opportunities already identified, representing attractive investment prospects for the private sector.