Saudi Arabia to begin construction on NEOM project in a few months

NEOM Chief Executive Officer Nadhmi Al-Nasr. (SPA)
Updated 14 April 2019

Saudi Arabia to begin construction on NEOM project in a few months

  • NEOM is a Saudi project for a smart and tourist cross-border city
  • Project has announced a partnership with MISK

RIYADH: Saudi Arabia will soon begin construction work at NEOM, one of the flagship projects of the Kingdom's Vision 2030, NEOM city's chief executive officer said on Saturday.

"In the coming few months the team will start the construction process, which will be followed by important and sensitive stages," Nadhmi Al-Nasr said in a statement carried by the Saudi Press Agency (SPA). Al-Nasr spoke after the "DREAM NEOM" competition, which was carried out in collaboration between NEOM and MISK Foundation on Friday.

He pointed out that the NEOM and MISK initiative was the first of many to attract Saudis who are capable of being an integral part of the construction process of this dream city.

He said the partnership between NEOM and MISK will not be the last, but will be carried on a long-term because they have the same goal, where there will be major initiatives that will surprise the citizens in the coming days.

Al-Nasr expressed his happiness with the achievements of the DREAM NEOM competition, pointing out that all the submitted projects will be counted and employed in the right environment. 

He added that the project is not looking for ideas outside the box, but for creative and unique ones.

Three Saudi youth teams have won the first awards from the Fellowship and Traineeship in DEAM NEOM competition, where the three teams presented smart solutions to meet the challenges that may face future cities in the fields of renewable energy, sea transportation and special needs services.

The winners of the first place received SR 250,000, the second place received SR 100,000 and the third SR 50,000, in addition to adopting their projects in NEOM city in the future.

Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019

Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.