Saudi Arabia has placed foreign investment as a main focus in its plans for economic development. (SPA)
Saudis welcome plans for revolutionary zero carbon city
JEDDAH: Saudi officials and citizens have welcomed the Kingdom’s revolutionary zero carbon city, announced on Sunday by Crown Prince Mohammed bin Salman.The city — named “The Line” — will be a car-free city within Saudi Arabia’s futuristic NEOM business hub along the Red Sea coast.
The construction is set to start in the first quarter of this year. It will allow 1 million residents to live in a “zero cars, zero streets and zero carbon emissions” city but around nature.
“It is a new era of civilization, a new model for a city which is clean, proper and with zero carbon,” Saudi economist Mazen Al-Sudairi told Arab News welcoming this major step. “This will improve the efficiency of humankind.”
He added that Saudi Arabia is moving toward a new data-based civilization as compared to the older civilization, which was built on the flow of water and vegetation.
Moreover, Al-Sudairi believes that this model will attract more foreign direct investment and provide a tech-based future.
Saudi Minister of Communication and Information Technology, Abdullah Alswaha, said on Twitter: “Saudi Arabia enters the great book of history as an innovative force for the 21st century.”
He noted that the city is moving to green and renewable energy, stressing that the region can exploit solar energy and winds by more than 70 percent, which makes NEOM one of the top three places around the world for energy efficiency.
In addition, NEOM also has the capability to produce green hydrogen, he told Al-Arabiya on Monday.
• The construction is set to start in the first quarter of this year.
• The city will receive huge cloud computing investments, amounting to more than $1.5 billion.
• It will allow 1 million residents to live in a ‘zero cars, zero streets and zero carbon emissions’ city but around nature.
He added that the futuristic city will receive huge cloud computing investments, amounting to more than $1.5 billion.
The crown prince said the backbone of investment would come from Saudi Arabia and the Kingdom’s sovereign wealth fund — the Public Investment Fund — and local and international investors for the NEOM project.
Saudi Arabia has placed foreign investment as a main focus in its plans for economic development.
Even in light of the global economic tension resulting from the coronavirus disease (COVID-19) pandemic, foreign investment in the Kingdom jumped by 2 percent in the third quarter of 2020, Al-Eqtisadiah reported.
Saudi Deputy Defense Minister Prince Khalid bin Salman, said on Twitter: “It is one of the major projects that places people first and employs technology to serve societies.”
The project is a direct response to some of the vital challenges facing humanity, such as infrastructure, pollution, traffic and human congestion, NEOM said.
Education Minister Hamad bin Mohammed Al-Asheikh also welcomed the announcement saying: “The crown prince’s global vision for The Line places the humans’ life, health, environment, productivity and entertainment first.
“The project is characterized by the principles of global humanity, economic diversity and artificial intelligence, and the enhancement of research and innovation opportunities for the future industry.”