The ambassador of Saudi Arabia to Korea recently addressed a prominent business forum to shed light on NEOM, a transformative city project, and the myriad investment opportunities awaiting in the kingdom, particularly for Korean investors. The event, held in Seoul, aimed to foster connections between Korean enterprises and influential figures from the international business landscape.
In an event organized by a leading media outlet in Seoul, Saudi Arabian dignitaries elaborated on the country’s development initiatives. The focus was on the NEOM city project, a cornerstone of the kingdom’s modernization efforts driven by Saudi Vision 2030. This strategy aims to diversify the economy and decrease oil reliance, highlighting the nation’s young, educated population and its strategic position on key global trade routes.
During the gathering, Saudi officials underscored 14 key sectors that are pivotal to NEOM’s economic framework. NEOM’s Deputy CEO, Rayan Fayez, via a video stream, detailed the project’s emphasis on energy and water sustainability, mobility technology, and digital infrastructure. He emphasized the commitment to powering NEOM with 100% renewable energy, leveraging the region’s optimal mix of solar and wind resources.
Fayez expressed confidence in NEOM’s potential to revolutionize urban living and business with its sustainable and inclusive growth plans. ‘The Line,’ a 170-kilometer urban development designed to blend with the environment, exemplifies this vision.
The Saudi Ambassador to Korea highlighted the country’s evolving partnership with Korea, which now spans cutting-edge sectors like smart infrastructure and the digital economy. He outlined several ambitious Saudi Vision 2030 projects, such as the Red Sea project and Diriyah Gate, that promise substantial investment prospects.
At the business event, the President-Publisher of the host media organization pinpointed the Middle East, and Saudi Arabia in particular, as the epicenter of current global business innovation. He remarked on the region’s history of economic surges but noted the present surge is fueled by creativity and the capability to actualize visionary projects.
The event’s subsequent sessions delved into economic cooperation between Korea and Saudi Arabia, with experts from various ministries and research institutions contributing to the dialogue. Discussions also touched upon Saudi Arabia’s tourism potential and strategies.
This gathering in Seoul represents the fourth such event aimed at promoting international business ties, with previous editions focusing on Indonesia, Vietnam, and India.