KUALA LUMPUR, 31 January 2006 -- A memorandum of understanding (MOU) has been signed with International Medical University in Malaysia to conduct a feasibility study on establishing a medical college in Madinah, according to a prominent Saudi businessman.
Speaking to Arab News, Ghassan A. Al-Sulaiman, chairman of Saudi-Malaysian Business Council, also disclosed plans to establish a college of technology in the industrial city of Yanbu.
"I have the honor to sign the memorandum with the university, representing a group of Saudi investors," he said. "We have already obtained preliminary approval from the Madinah Council for the medical college project."
Al-Sulaiman said two more colleges would be established in Madinah in order to set up a medical university in the region.
"According to Saudi law, there should be at least three colleges for the formation of a university," he said.
He hoped that the college of technology would be ready within two years, before the medical college, which could take three years to complete.
"The Malaysians have expressed their desire to invest in the medical college project," he said.
Speaking about the operational aspects of the colleges, Al-Sulaiman said international companies having world-class expertise would run them.
He said the Kingdom would sign three agreements with Malaysia today, including a $1-billion pact to manufacture mobile phones in the Kingdom.
The remaining two will be worth of a total of SR120 million. "These are all joint ventures to be established in Saudi Arabia," he pointed out.
He emphasized the need for promoting mutual investments between Saudi Arabia and Malaysia in strategic sectors.
Speaking about the four-nation Asian tour of Custodian of the Two Holy Mosques King Abdullah, he said the visit was aimed at making economic gains rather than achieving political objectives.
"The three countries - China, India and Malaysia - visited by the king are strategic economic partners of Saudi Arabia," he pointed out.
Ahmed Illias, president of the Saudi-Malaysian Friendship Society, said the society along with the Saudi-Malaysian Business Council would organize a business summit today to forge a strategic allegiance between the two Muslim countries.
"King Abdullah is known for initiatives for global peace and for promoting dialogue between religions," he said. "It's time for Malaysia and Saudi Arabia join hands on how to look after the interests of the Ummah." He called for an effective action plan to restore the image of Islam as a peaceful religion.
"We expect the royal visit would boost Saudi-Malaysian ties in economic, investment and trade sectors as well as in higher studies," said Ismail Haji Ibrahim, Malaysian ambassador to Riyadh
By Raid Qusti
© Arab News 2006
