Tabuk – Muhammad Al-Saad
His Royal Highness Crown Prince Mohammed bin Salman affirmed that the Kingdom possesses tremendous economic opportunities and that its locations near the Red Sea enhance its investment potential, which has reached $500 billion in the «NEOM,» noting the significant opportunities the Kingdom is seeking to realize and capitalize on; His Royal Highness emphasized that the «NEOM» project will transform many aspects of Saudi Arabia and is a place for dreamers and non-conformists.
Taking the world to a new place
His Royal Highness expressed satisfaction with the project’s launch «from scratch,» as this provides numerous and significant advantages for the future and allows for freedom in innovative designs, and astute planning for future generations, emphasizing that drones will be one of the modes of transportation in this massive project, and that investors and business leaders will contribute to drafting the appropriate regulations for the «Neom« project.
Prince Mohammed bin Salman noted that the «NEOM» project is situated in a prime location between three continents and major air and sea transport routes, and that 10 % of global trade passes near the site via the Red Sea; it also boasts breathtaking natural scenery and a temperate climate. His Highness said «Through this project, we seek to transport the world to a new location.»
$500 billion for the «Neom» dream
On the other hand, many economists and investors have explained that the «Neom» project is part of the ambitious Saudi Vision 2030 and will focus on nine specialized investment sectors, namely (the future of energy and water; the future of mobility; the future of biotechnology; the future of food; the future of technology and digital sciences; the future of advanced manufacturing; the future of media and media production; the future of entertainment; and the future of living, which serves as the cornerstone for the other sectors). The project will also be supported with more than $500 billion over the coming years by the country’s Public Investment Fund, in addition to participation from local and global investors, who believe in the high economic viability of investing in this project—considered the world’s largest investment project, spanning an area of approximately 26,500 km².
Smart Solutions for Future Projects
«Neom» is moving is moving toward using future technologies to carry out its projects by developing smart mobility solutions such as autonomous driving, as well as modern approaches to agriculture, food production, healthcare, and education using the latest technologies. We expect the project to be a special zone exempt from the Kingdom’s standard regulations and laws, such as taxes, customs, and labor laws—with the exception of the sovereign regulations of the countries participating in the «NEOM» project. This makes the region an important investment destination and a prime location for free trade, We expect global companies to invest billions of dollars in the «NEOM» project, and our wise government is committed to providing all the necessary elements for the success of this pioneering global initiative. The first phase of the project is scheduled to be completed in 2025.
The highest standards of global sustainability
The city of «Neom» plans to employ the latest global technologies in the field of security and safety, and to enhance the efficiency of public life activities, in order to protect residents, visitors, and investors.
Furthermore, all services and procedures will be 100% TP3T, with the goal of making the «Neom» project the most efficient in the world, and will therefore be applied to all activities, including legal, governmental, and investment procedures, among others. In fact, the entire region will be subject to the highest global sustainability standards, and all transactions, procedures, and legal proceedings will be conducted electronically without the use of paper.
Implementing the concept of the workforce for the new economy
Vigorous efforts will be made to implement the concept of the workforce for the new economy, which relies on attracting highly skilled talent to focus on innovation, decision-making, and business leadership, while repetitive and arduous tasks will be handled by a vast number of robots—whose numbers may exceed the human population—which could make the region’s per capita GDP the highest in the world. All these elements and characteristics will place the «Neom» project at the forefront in terms of the efficiency of the services provided, making it the best place to live in the world.
A New Way of Life with Enormous Potential
The «Neom» region will be built on virgin land, which gives it exceptional opportunities that set it apart from other regions that have emerged and evolved over hundreds of years. We will seize this opportunity to build a new way of life with immense economic potential, The futuristic technologies for developing the «Neom» region include unique features, some of which are smart mobility solutions ranging from autonomous driving to self-piloted aircraft, modern methods of agriculture and food production, human-centered healthcare that surrounds the individual to ensure their well-being; free ultra-high-speed internet networks, or what is known as »digital air»; free, continuous online education meeting the highest global standards, integrated digital government services that make all services accessible to everyone at the touch of a button, new building code standards for carbon-neutral homes, and a creative and innovative design for the «Neom» district that encourages walking and cycling, powered by renewable energy sources.
