‘The Line’ reflects Saudi Arabia’s seriousness to diversify economy: Minister of Commerce

‘The Line’ reflects Saudi Arabia’s seriousness to diversify economy: Minister of Commerce
NEOM is a distinctive and innovative model. (Supplied)
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Updated 12 January 2021

‘The Line’ reflects Saudi Arabia’s seriousness to diversify economy: Minister of Commerce

‘The Line’ reflects Saudi Arabia’s seriousness to diversify economy: Minister of Commerce
  • The Line project aims to fulfill the transformative model for future cities
  • NEOM reflects the unprecedented radical transformation that the Kingdom is witnessing

Saudi Arabia’s keenness on undertaking a large project like The Line at this time, in addition to the follow-up by Crown Prince Mohammed Bin Salman, affirm the seriousness towards diversifying the economy and promote development, NEOM board member and Minister of Commerce and acting Minister of Media, Majid Al-Qasabi, told Al Arabiya.

The Line project aims to fulfill the transformative model for future cities, so that NEOM will become a global interface to attract a unique urban model across the world, Al-Qasabi added.

NEOM reflects the unprecedented radical transformation that the Kingdom is witnessing, as it is a new polarized and attractive platform across continents.

NEOM is a distinctive and innovative model, which will create opportunities in various fields, whether job opportunities, investments, or partnerships.

The minister asserted that taking advantage of these opportunities will put Saudi Arabia in the ranks of developed countries.

The project is considered an economic engine for the region, as NEOM will play a pivotal role in development, he highlighted, pointing out that the city will set a scale to measure future cities and determine the Kingdom’s image in general and Saudi citizen in particular.

Earlier this week, the Crown Prince unveiled The Line project within NEOM, a city of million residents, as its development will start during Q1 2021, according to data compiled by Argaam.


Saudi Arabia tops 2020 list of UAE export markets

Saudi Arabia tops 2020 list of UAE export markets
Updated 12 min 38 sec ago

Saudi Arabia tops 2020 list of UAE export markets

Saudi Arabia tops 2020 list of UAE export markets
  • Emirates exported to 230 countries in 2020, up from 200 in 2019

DUBAI: Saudi Arabia was the UAE’s top export market last year, with exports and re-exports from the emirates to the Kingdom amounting to 73.58 billion UAE dirhams ($20.04 billion) during the first nine months of 2020.

The latest figures from the UAE’s Federal Competitiveness and Statistics Centre reported that the Emirates exported to 230 countries in 2020, up from 200 in 2019.

While Saudi Arabia took the top spot as the biggest export destination for the UAE, second was Iraq with 36.5 billion dirhams followed by Switzerland (33.47 billion), India (24.78 billion), Oman (24 billion), China (22 billion), Hong Kong (20.4 billion), Kuwait (16.1 billion), the US (13.1 billion) and Italy (12.75 billion).

In total, the UAE earned 460 billion dirhams from foreign trade in the first nine months of 2020, despite the slowdown as a result of the coronavirus pandemic.