With government support exceeding half a trillion dollars.. Mohammed bin Salman launches the `NEOM` project, the destination of the future

The Saudi Crown Prince and Chairman of the Board of Directors of the Public Investment Fund, Prince Mohammed bin Salman, announced the launch of the "NEOM" project in the north of the Kingdom, with support exceeding half a trillion dollars.

The Saudi Press Agency, “SPA”, quoted the Crown Prince as saying: “The (NEOM) region will focus on 9 specialized investment sectors targeting the future of human civilization, namely energy, water, transportation, biotechnologies, food, technical and digital sciences, advanced manufacturing, media and media production.” , entertainment, and livelihood, which are the main pillars for the rest of the sectors.

He added that this is with the aim of stimulating economic growth and diversification, enabling industrialization processes, innovating and moving the local industry on a global level, all of which will lead to job creation and contribute to increasing the Kingdom’s gross domestic product.

He continued: The "NEOM" project will attract private investments, government investments and partnerships. "NEOM" will also be supported by more than $500 billion in the coming years by the Kingdom and the Public Investment Fund, in addition to local and international investors.

According to him, the project site is an axis connecting the three continents; Asia, Europe and Africa, as 70% of the world's population can reach the site within a maximum of 8 hours. The "NEOM" project will include lands within the Egyptian and Jordanian borders, as it will be the first special area extended between three countries.

Future technologies for the development of the "NEOM" region include unique advantages, some of which are: smart mobility solutions ranging from self-driving to self-driving aircraft, modern methods of agriculture and food production, health care that focuses on and surrounds people for their well-being, free networks of high-speed internet. Or what is called "digital air".

The area includes free, continuous education on the Internet at the highest international standards, integrated digital government services that provide all services to everyone by touch, new building code standards for carbon-free homes, and a creative and innovative design for the "NEOM" area that stimulates walking and the use of bicycles, supported by resources. Renewable energy.

Source: Agencies