Neom close to revealing latest grand plans for city project

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Updated 29 January 2020

Neom close to revealing latest grand plans for city project

  • CEO Nazmi Al-Nasr said plans for the construction phases of the project would be revealed in the next two months

TABUK: Detailed construction plans are set to be revealed for Neom, the vast cross-border city in Tabuk in northwestern Saudi Arabia.

CEO Nazmi Al-Nasr said plans for the construction phases of the project would be revealed in the next two months. 

In a statement to the Saudi Press Agency after attending Neom Academy’s launching ceremony two days ago, Al-Nasr said:  “2020 will be the start of the real impetus for Neom’s visionary projects.

BACKGROUND

Neom Academy will open its doors to provide training to over 1,000 young people in various fields.

“This is why Neom Academy will open its doors in the next few weeks to train 1,000 students from the area, in fields that support various important sectors at Neom such as energy, tourism, transportation, hospitality and others.”

The academy will provide job opportunities for local residents.

“Neom’s partnerships with national institutions will increase based on the need for training and qualification,” added Al-Nasr.

Saudi Arabia is investing heavily in a number of tourism-focused giga projects as it opens the sector up to international visitors as part of a broader push to diversify the Kingdom’s oil-based economy.


MoU signed to facilitate investment in Saudi Arabia

Updated 21 February 2020

MoU signed to facilitate investment in Saudi Arabia

RIYADH: The Saudi Arabian General Investment Authority (SAGIA) and the Diriyah Gate Development Authority (DGDA) signed a memorandum of understanding (MoU) to step up cooperation, the Saudi Press Agency reported on Thursday.

Under the MoU, the two authorities will establish a joint working group to boost cooperation in several areas including facilitation provided to investors, conducting economic studies of the market, building partnerships with commercial and industrial bodies and local companies, launching businesses, promoting the ease of doing business, providing logistic support, participating in local and international exhibitions, forums and special visits and exchanging knowledge and information.

All this will predominantly be in aid of attracting local and foreign investors. 

“SAGIA believes in the importance of such cooperation that can unify and multiply the efforts in a way that sets the world’s attention on the Kingdom’s cultural and heritage treasures and investment opportunities,” said SAGIA Gov. Ibrahim Al-Omar.

“This is done through close cooperation with DGDA to highlight these opportunities and market them internationally and locally. This MoU is a step in the right direction to achieve the objectives and directives of both bodies.”

Jerry Inzerillo, CEO of the DGDA, said: “Cooperating with SAGIA is one of the most important international investment motors to attract local and international investments to the Kingdom. This comes at a time where developing the Kingdom’s investment infrastructure is found within the objectives of its Vision 2030.

“At DGDA, we aim at attracting the best technologies and regional and international investments to the Kingdom. This will contribute to the improvement of the local economy and promote our objectives seeking to turn Diriyah into the Kingdom’s gem and an international economic tourist destination,” he added.