| Element List | Explanation |
|---|---|
| Introduction | Filling & Packing Materials MFG. Co. (FIPCO), represented by CEO, His Excellency Mr. Abdullah Muhammad Alharbi has signed Non-binding MOU on 24th of Jumada Al-thani 1444H corresponding to Jan. 17, 2023 with His Excellency the Vice President for Educational Affairs Prof. Fahad bin Saleh Al-Luhaidan for the purpose of enhancing cooperation in the fields of scientific research, training, development, consulting and quality assurance, in addition that utilizing the shared experiences in the fields of mutual cooperation in a way that contributes to achieving the strategic goals of both sides aligning with the Saudi Vision 2030.
This MOU doesn’t result in any financial or legal obligations for either party towards the other, as the “IMSIU” is a non-profit government entity with outstanding educational, research and training capabilities and expertise in various technical fields, mainly the scientific research for applied purposes, while “FIPCO” aims to achieve cooperation and integration in community service, meet the aspirations and directives of the wise leadership to achieve Saudi Vision 2030, develop its industrial practices, utilize capabilities and raise production efficiency in line with the company’s vision and ambition in vital areas that include scientific research, sustainability solutions and the introduction of initiatives Artificial intelligence in the manufacturing process and digital transformation programs in order to achieve the 4G industrial attitudes. |
| Memorandum Signing Date | 2023-01-17 Corresponding to 1444-06-24 |
| Counterparty | Mohammad Ibn Saud Islamic University (IMSIU) |
| Memorandum Subject | Strengthening the areas of cooperation and mutual investment in scientific research, arranging the relevant conferences and workshops, sharing the academic and technical knowledge, discussing programs in the fields of planning and institutional excellence and improving the departmental performance, as well as the Cooperating in facilitating cooperative training programs for students of relevant colleges, attracting qualified graduates from the university, and providing the necessary support to the company’s employees in completing postgraduate programs, in accordance with the provisions of the laws, regulations and capabilities available to both parties. |
| Memorandum Duration | Three years starting from signing date |
| Related Parties | No related parties are involved in this MOU. |
| Financial Impact | This MOU doesn’t result in any financial or legal obligations for either party towards the other |
