NEOM Strategy

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NEOM Strategy

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Plans for a new smart city, called The Line, in Neom are part of the 2030 Vision to embrace a new economic era in the kingdom. With plans under way to build Saudi Arabia's smart city Neom, it is set to be a place in the desert unlike anything else on Earth.

The NEOM project aims to achieve exceptional livability, thriving businesses and reinventing conservation, in line with Saudi Vision 2030.

Two joint venture groups will undertake the project, which is separated by lower and upper geographies, with the first contract awarded to FCC Construction SA/China State Construction Engineering Corporation/Shibh Al-Jazira Contracting Company Joint Venture (FCC/CSCEC/SAJCO JV), and the second to Samsung C&T ...

Flying taxis, robotic avatars and holograms — Saudi Arabia pushes ahead with its sci-fi city vision

  • The project has received its fair share of skepticism around feasibility.
  • Located on a coastal strip in Tabuk in the northwest of the country, there are three areas of Neom that have been officially announced — primarily The Line.
  • The other planned Neom areas are Oxagon, a “gateway to advanced and clean industries,” which will become the largest floating industrial complex in the world.
  • And Trojena, a year-round destination with mountain quality dry air, a ski slope, mountain biking, water sports, wellness facilities, and an interactive nature reserve.

Saudi Arabia will set aside 300 billion riyals ($80 billion) for an investment fund tied to the crown prince's flagship megaproject, Neom, and plans an initial public offering of the project on the kingdom's stock market as soon as 2024.

Saudi Arabia's NEOM Green Hydrogen Company has selected India's Larsen & Toubro as the engineering, procurement and construction (EPC) contractor for solar and wind plants to power the planned $5bn green hydrogen-based ammonia plant at the NEOM development.

The Kingdom of Saudi Arabia (KSA) has been attracting international attention for the momentum of its transformation taking place under the Vision 2030 development plan. In 2017, Prince Mohammed bin Salman first unveiled NEOM, KSA’s flagship business and tourism development. Located on the Red Sea coast, NEOM is a central project in the 2030 Vision outlining the Kingdom’s plans to diversify the economy.

NEOM offers unique opportunities and advantages to leading investors and business owners worldwide. It will enable them to gain direct access to both Saudi and global markets, given its unique geographic location linking three continents.

Deloitte has developed the Foreign Investment Advisory center of excellence (‘FIA’) with a view to assist prospective investors throughout their investment journey in KSA. We provide advice on business structures, licensing, workforce planning, immigration, tax and much more.

Investing in technology

Motamayor explained that Neom plans to lead a Red Sea marine species biotech development program that will serve as an innovation center for the MENA (Middle East/North Africa) region in aquaculture genomic research and development.

To reach this goal, two things are needed: great infrastructure and strong partnerships; and both are well under way, he said. On the infrastructure side, Neom is building RAS indoor tanks, recirculating ponds, offshore and nearshore cages, hatchery and nursery facilities; algae and insect production plants and seafood processing facilities.

“All our infrastructure is designed to reach the highest biosecurity, sustainability and environmental standards, including maintaining a zero-discharge policy,” he said. “Simultaneously, we’re developing strong partnerships with leading biotech companies in the region and worldwide, exploring technologies including pioneering genomic selection.”

Impact of digital marketing on SMEs performance in Saudi Arabia: Implications on building NEOM

Author(s): Areej Algumzi
Subject(s): Marketing / Advertising, ICT Information and Communications Technologies
Published by: Transnational Press London
Keywords: NEOM; SMEs; digital marketing; promotion; strategy; performance;

Summary/Abstract: Digital marketing has replaced traditional marketing approaches due to an increase in the access to internet and communication technologies across the globe. In addition, it has created an opportunity for SMEs with limited market and funding to promote their brand across different regions, supporting balanced regional development. In this context, Saudi Arabia has been promoting the growth of SMEs through various initiatives as a part of its vision 2030 programme. Accordingly, NEOM city, a multi-billion project was launched to support businesses, innovators, entrepreneurs, and researchers by proposing the city as a hub for international entrepreneurs. However, it is unclear how the local SMEs and their approaches toward digital marketing would be impacted, and how the city can support them. This paper analyses and evaluates the impact of digital marketing on SMEs performance in Saudi Arabia, and its implications for developing NEOM city. An online survey questionnaire instrument was used for collecting data from 358 entrepreneurs and business owners categorised under SMEs. Low-cost marketing mix with techniques such as email marketing, social media marketing are preferred by SMEs. Cultural, economic, and technological are the major factors identified influencing the adoption of digital marketing by SMEs. Digital marketing reflected more positive impact on strategic performance (customers and employees’ satisfaction) than financial performance (profitability and sustainability) of Saudi Arabian SMEs. Saudi Arabian SMEs reflect their readiness and preparedness to reap the benefits from the Saudization programme, with a few minor issues related to socio-cultural, technological, and labour challenges.