A team of Saudi inventors has created a new system that can generate renewable electricity for use in the city of NEOM, the city to be built in the northern part of the Kingdom on the Red Sea coast, with funding of $ 500 billion.
Turkish Minister of Economy and Trade Nihad Zibekji participated in the Saudi-Turkish Business and Investment Forum in Istanbul in the presence of Saudi Minister of Trade and Investment Dr. Majid Al-Qasabi and a number of Saudi and Turkish businessmen. Nihad stressed during the meeting the importance of Saudi-Turkish integration in economic and development fields.
The Legal Counsel Mishal Al-Rashdan focused on that the Saudi Crown Prince’s perspective of the NEOM venture is a far-reaching one. He didn’t neglect the lawful viewpoint, which concerns us as lawmen. He focused on that the sovereign laws of the task will be inside the system of Saudi law, such as resistance and national security. Psychological warfare and comparative dangers, and outside arrangement.
Israeli companies have expressed their intention to invest in the project of the city of “NEOM” Saudi Arabia, announced by the Crown Prince, Mohammed bin Salman, is scheduled to be built on an area of 26.000 square kilometers and overlooking the Red Sea.
Vice President of the National Tourism Committee Abdulrahman Al-Saneh said that the new project, launched by the Crown Prince HRH Prince Mohammed Bin Salman, is a huge project that will increase or increase tourism revenues on oil income.
Russian Minister of Energy Alexander Novak said that Russian corporations can participate within the Neom project, declaring that the visit of the defender of the two Holy Mosques to his country recently led to a rise of bilateral trade to quite 70th in one month only.