Neom: Saudi Arabia taps Jordan to explore joint ventures near megacity
Saudi Arabia's $1.5 trillion ultra-modern megacity project to expand into Jordanian side
June 01, 2024
Saudi Arabia and Jordan have recently engaged in discussions to explore the potential opportunities in the northern region of the mega-project, Neom from the Jordanian side.
The Jordanian side of the border offers ports and existing infrastructure that could be readily utilised for projects benefiting both countries and supporting Saudi Arabia’s Vision 2030 and the wider region, a Pan-Arab newspaper, Asharq Al Awsat, reported.
Chairman of Jordan's Investment Commission Khalid Wazani has emphasised that Neom, a $500 billion project launched by Saudi Crown Prince Mohammed bin Salman in 2017, is attracting increased Saudi-Jordanian investments to establish ventures in Aqaba and enhance existing businesses there.
The Jordanian side of Neom includes Aqaba port and Marsa Zayed which are expected to serve as hubs for knowledge exchange and consultations, facilitating the development of projects related to Neom.
In a statement Friday, Wazani underlined the potential positive outcomes, alignment of perspectives, and progress towards the project’s objectives, expected to benefit Saudi Vision 2030 and the region including Egypt and Jordan in the Neom initiative.
He made his remarks after a meeting with member of the Board of Directors and Chairman of the Securities and Investment Committee at the Riyadh Chamber of Commerce Mohammed Al Sayer in Riyadh.
Neom will provide opportunities for development with a total area of 460 km on the banks of the Red Sea and a total area of 26,500 square meters.
