PROJECT UPDATES: Saudi Arabia’s most important medium-term projects, initiatives
- Date: 03-Oct-2022
- Source: Zawya
- Sector:Real Estate
- Country:Saudi Arabia
PROJECT UPDATES: Saudi Arabia’s most important medium-term projects, initiatives
Saudi Arabia’s pre-budget 2023 statement reviewed the most important initiatives and programs in the medium term. Zawya Projects has compiled a list from a statement issued by the Ministry of Finance.
National Tourism Development Strategy
Launched in 2019, the strategy aims to develop the tourism sector in the Kingdom. One of the most prominent achievements in 2021 was the attraction of 64 million tourist visits, as the total volume of spending reached 81 billion Saudi riyals.
National Transport and Logistics Strategy
The National Transport and Logistics Strategy was launched in 2021. It aims to localize the vehicle routing/steering sector by 10 percent and the entry of three ports into the top 100 ports in the world.
NEOM
The project is a future global centre for trade, innovation and knowledge to enable leading companies to change the future of sectors such as energy, transportation and other future sectors. The Line within the giga project will redefine the concept of urban development. It will be 200 metres wide, 170 kilometres long and 500 metres above sea level.
The Red Sea Project
It is one of the mega projects of which the Public Investment Fund (PIF) has full ownership. It will introduce new standards in renewable tourism and sustainable development. The