FII: NEOM reflects Saudi Arabia’s ability to undertake projects: Emaar founder

Mohamed Alabbar, Founder, Emaar Properties. (Supplied)
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Updated 30 January 2021
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FII: NEOM reflects Saudi Arabia’s ability to undertake projects: Emaar founder

Saudi Arabia is a good example of advanced digital infrastructure, noting that NEOM reflects the Kingdom’s ability to implement projects, Mohamed Alabbar, Founder, Emaar Properties, said during the Financial Investment Initiative (FII) conference.

“The good thing about Saudi Arabia is that they reviewed, they put up a plan, and you can tell somebody is executing. That is something not many people can do globally,” Alabbar added.

He also underlined the role of the private sector, adding: "Saudi Arabia is selecting the right people. They are brave, bold and sticking to the plan from day one.”

Alabbar also expected e-commerce, food supply to see more development in the coming period.


Saudi Industry Ministry, KAUST roll out manufacturing technology drive

Updated 10 sec ago
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Saudi Industry Ministry, KAUST roll out manufacturing technology drive

RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources has partnered with King Abdullah University of Science and Technology to roll out a new initiative aimed at accelerating the adoption of advanced manufacturing technologies across the Kingdom’s industrial sector.

The program, titled “Technologies for Exceptional Transformation,” is designed to help industrial companies integrate smart manufacturing solutions and applied research into their operations, boosting productivity and competitiveness, the Saudi Press Agency reported. 

The initiative is part of the ministry’s ongoing efforts to enable industrial transformation in the Kingdom. 

The program, which falls under the umbrella of the Local Industry Stimulation Initiative, facilitates access for industrial establishments of all sizes in the Kingdom to smart manufacturing solutions, strategic research, and technologies developed at KAUST in partnership with global service providers. 

It is designed to contribute to improved productivity, stimulate industrial innovation, enhance sustainability and quality, and develop new production lines in sectors prioritized by the National Industrial Strategy. 

“The criteria for companies to benefit from the initiative’s services include being headquartered in the Kingdom, having its activities aligned with the sectors approved in the National Industrial Strategy, identifying technical needs and gaps to provide appropriate support, and submitting a financing model and sharing financial performance data and R&D expenditure to evaluate its performance before and after adopting the technological solutions,” the SPA report stated. 

The Technologies for Exceptional Transformation initiative is part of the ministry’s integrated efforts with research centers and academic institutions, aligning with the center’s objectives to enable advanced manufacturing in the Kingdom. 

The program aims to enhance the efficiency and competitiveness of the industrial sector and help achieve the goals of Vision 2030.