Thursday, January 28, 2021
Saudi Crown Prince reveals a plan to make Riyadh as one of the 10 Largest city economies
Saudi Arabia's Crown Prince, Mohammed bin Salman said that the Kingdom will announce a strategy to develop the city of Riyadh as part of its plans to diversify sources of income and grow the economy.
The Crown Prince of the Kingdom during his conversation with Senator Matteo Renzi, former Italian Prime Minister, member of the Board of Trustees of the Future Investment Initiative, during his participation in the 4th session of the Future Investment Initiative (FII), in a dialogue session “The Future of Riyadh”, said, “All the characteristics that Riyadh owns it is for creating jobs, creating growth in the economy, creating investments, and creating many opportunities. Therefore, we look at Riyadh with consideration. ”
- He added, "Therefore, we aim for Riyadh to be one of the 10 largest economic cities in the world, it is now on number 40 largest economies in the world as a city, We aim in Riyadh to reach from 7.5 million people to 15 to 20 million people in the year 2030." Trending : Saudi Arabia ranks 7th worldwide in Internet speed and 5G network coverage
- Since cities constitute 85% of the world’s economy, real development begins with cities, whether in industry or innovation, in education, in services, or in tourism and other sectors.” He added, “Without a doubt, global economies are not in place. On the states, but on the cities, he added.
- He said that, “Today, the city of Riyadh constitutes approximately 50% of the non-oil economy in the Kingdom of Saudi Arabia, The cost of creating a job in it is 30% less than the rest of the cities of the Kingdom of Saudi Arabia, and the cost of developing the infrastructure and real estate development in it is 29% less than the rest of the cities of the Kingdom of Saudi Arabia.
- Infrastructure in Riyadh is very impressive because of what King Salman did in more than 55 years in managing and planning the city of Riyadh.
- According to the Crown Prince’s statement, the Kingdom plans to establish a Green Riyadh program to afforest millions of trees in the city of Riyadh. This will reduce the temperature and dust level. There are also plans to create huge reserves around Riyadh. To improve the environmental situation of the city, in addition to environmental projects in the Kingdom of Saudi Arabia, which will be announced later.
- Prince Mohammed bin Salman confirmed that there are Aramco shares offerings that may occur in the coming years, as part of its plan to transfer funds to the Public Investment Fund, to be re-injected inside and outside the Kingdom of Saudi Arabia for the benefit of Saudi citizens. See Also : King Salman park in Riyadh to be largest park in the World
