OREANDA-NEWS. June 06, 2013. Saudi Aramco and the Hong Kong University of Science and Technology (HKUST) Business School, a top ranking business school in Asia, have teamed up to launch a new MBA program in the Kingdom of Saudi Arabia.

The new partnership seeks to develop local talent and business leaders, meeting the needs of the growth of the energy industry and supporting the development of the Kingdom and the region.

Building on the HKUST Business School’s top ranked MBA program, the new program aims to provide advanced education in leadership and management to employees of Saudi Aramco, and in the longer term, also those of the company’s business partners in the region.

“The collaboration between Saudi Aramco and HKUST demonstrates Saudi Aramco’s long-standing and growing energy relationship with Asia in new business and cultural relationships, including closer ties to higher education,” said Ms Huda M. Al-Ghoson, executive director, Employee Relations & Training, Saudi Aramco.

She added: “The MBA program will leverage Saudi Aramco’s strengths and comparative advantages to enable the development of a knowledge-based economy in Saudi Arabia as well as transforming the company into a fully integrated and competitive, world-leading energy and chemicals company.”

Professor Leonard Cheng, Dean of HKUST Business School, commended Saudi Aramco for its vision and commitment to talent development.  He said, “HKUST Business School is proud to partner with the company in its effort to groom global business talents and leaders.”

HKUST’s MBA program was ranked No. 8 in the world and No. 1 in Asia in the Financial Times Global MBA Ranking 2013. It is the program’s fourth consecutive year in the top ten of the chart since 2010.

“We are very excited that we are expanding our geographical reach and bringing our world-class program to an important and interesting region of the world,” added Professor Cheng. “This is the first company-sponsored MBA program offered by HKUST Business School. Like our other world-class degree programs, this new program aims to place students at the cutting-edge of management knowledge and skills, and also to prepare them to think and act globally.”

The MBA program in Saudi Arabia will be offered in a part-time mode over a period of 26 months. Students will fly into Hong Kong for the first and the final courses, while the other courses will take place at Saudi Aramco premises at Ras Tanura, Saudi Arabia. To graduate, students have to complete a total of 45 credits of coursework, including 15 core courses and 8 advanced courses. These requirements are the same as those of HKUST’s current part-time MBA programs offered in Hong Kong, and Shenzhen in China.

A pilot program has been launched with a cohort of 29 students selected through a rigorous admission process conducted by HKUST Business School. They attended a five-day residential program at the HKUST’s campus in Hong Kong from May 25 – 29, 2013.

The pilot intake comprises a diverse group of students with 19 originally from Saudi Arabia and 10 expatriates who come from different parts of the world. They are working in a wide range of fields, including engineering, operations management, logistics and supply chain, information technology, project management, accounting, finance, business development, human resources, and general administration.