There is an unmistakable spirit captured in the name of Saudi Arabia's recently announced city on the Red Sea. NEOM is derived from "Neom": the ancient Greek word for "new"; And "M", as the first letter of the Arabic word مستقبل (mustaqbal) or "future".
This "new future" – expressed in the fruits of our ambition the city will deliver – are not only to be enjoyed by Saudi Arabia. NEOM's promise will touch the lives of millions in the region, and even billions around the world.
Lining one of the world's busiest trade corridors along the Red Sea, NEOM will serve as a hub, emanating innovation, commerce, and dynamism. It will be the genesis of a next generation 21st century community, contributing positively to the larger global community.
Building this next generation city will require next generation investments in Saudi Arabia. At an estimated cost of approximately $500 billion, a significant value chain will need to be established to deliver on the operational aspirations of NEOM, and complete the project.
No doubt, the city will require a huge amount of investment in traditional construction resources and capabilities. Advanced technologies, however, will play a central role in shaping NEOM's unique identity. Establishing cutting-edge ICT and Internet of Things networks, robotics systems, sources of renewable energy, and carbon neutral transportation and infrastructure linkages will all form critical components of building the NEOM lifestyle.
Vision 2030's drive towards localizing goods and services, and NEOM's new future provides innovative companies seeking the next unique investment opportunity with the answer. Saudi Arabia – using the Vision as inspiration – will undoubtedly seek to capture as much of the value chain as we work towards the completion of phase one of the city. Investors in Saudi Arabia will therefore have first mover's advantage to participate in part of the $500 billion journey towards NEOM's first of
Although hugely important in itself, NEOM is one among many reasons why investors should explore Saudi Arabia as their next commercial frontier. We have a young and rapidly growing population; The Kingdom is likewise home to many sectors experiencing significant growth; and we are at the epicenter of three continents and a 5-hour flight away from 1.5 billion consumers in some world's most exciting markets.
NEOM, however, simultaneously epitomizes and signals Saudi Arabia's commitment to realizing the promise of Vision 2030. Moreover, it will establish itself as one of the key drivers for investment in the Saudi economy for years to come. As Saudi Arabia's investment promotion agency, the Saudi Arabian General Investment Authority (SAGIA) will continue to provide close support to investors seeking to participate in NEOM, as well as the many other exciting projects the Kingdom currently offers. We will be a key companion on your investment journey: whether it is towards NEOM or another opportunity, we consider your achievements as a crucial part the larger story chronicling Saudi Arabia's next chapter, marked by sustainability and success. Together, we can reach a "new future" – and this future will be especially bright.
For more information about the wealth of investment opportunity Saudi Arabia offers, please contact SAGIA's Investor Care Team at InvestorCare@sagia.gov.sa.
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