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Turkey Lauds NEOM, Saudi Development Projects

Turkey Lauds NEOM, Saudi Development Projects

Friday, 24 November, 2017 - 13:30
Conference visitors watch 3D presentation during an exhibition on NEOM. Reuters

Turkey commended NEOM project, which was announced by Crown Prince Mohammed bin Salman in October, along with giant development and economic projects launched by the kingdom of Saudi Arabia recently.

Turkish Economy Minister Nihat Zeybekci hailed the huge development projects launched by Saudi Arabia, especially NEOM project, which would turn the Kingdom into a leading model in various aspects of life and create more investment opportunities.

This project will have huge and positive effects on economy in the region, besides attracting large capitals and investments, he added.

On Wednesday, Istanbul witnessed the organization of Saudi-Turkish Business and Investment Forum that targeted reinforcing business and economic cooperation between the two countries.

NEOM aims to establish a smart city that would become a new vital destination, in north-west Saudi Arabia and extending to Egypt and Jordan. It will encompass the best minds and firms to reach the maximum levels of innovation.

The project will focus on developing various sectors, mainly the future of energy, water, transportation, vital technologies, nutrition, digital sciences, advanced manufacturing, media, entertainment and future of living.

Saudi Commerce and Investment Minister Majid al-Qasabi stressed the depth of the historic relations between Saudi Arabia and Turkey. Turkey is an important strategic partner of the Kingdom at all levels, foremost of which are economy and commerce, he added.

Qasabi referred to the importance of exchanging visits and meetings among business sectors in the two countries, as well as creating investment opportunities to push the trade relations towards wider fields.

He stressed the role of the private sector in the two countries, describing it as a key partner in the development process. The private sector can create more trade opportunities, as well as support and encourage quality and joint investment that may enhance the cooperation between the two countries, according to Qasabi.

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