Riyadh — The Saudi government has accelerated the pace of work on the NEOM projects. The city planned along the Red Sea coast envisages investments exceeding $500 billion.
Deloitte is the consultancy employed by the government to develop and assist prospective investors throughout their investment journey in the Kingdom.
Deloitte will provide advice on business structures, licensing, immigration, workforce planning, tax, and other related matters.
NEOM began the first phase of residential complexes for 30,000 workers of the giant project in 2019.
Al-Tamimi Group and Saudi Arabian Trading & Construction Co. (SATCO) have been awarded contracts to construct the new complexes.
Saudi Arabia’s Vision 2030 has set out a formidable economic development roadmap. This roadmap seeks to expand the Kingdom’s economy beyond oil, attracting foreign investment, create economic growth and jobs needed to employ the Kingdom’s fast-growing labor force, and generate a more resilient economy.
In 2017, Crown Prince Muhammad Bin Salman first unveiled NEOM as Saudi Arabia’s flagship business and tourism development project.
NEOM offers unprecedented opportunities and advantages to investors worldwide, enabling direct access to both Saudi and global markets, given Saudi Arabia’s unique geographic location linking it to the three continents of Asia, Africa, and Europe.