The Saudi Arabian Crown Prince Mohammed bin Salman Al Saud announced a strategy for the capital Riyadh to be one of the largest economies in the world, Al Arabiya TV reported.
As part of the strategy, Saudi Arabia plans to increase the population of Riyadh from 7.5 million to 15 to 20 million in 2030, the Crown Prince said on day two of
Future Investment Initiative (FII) summit on Thursday, Xinhua news agency reported.
Riyadh represents 50 percent of the country’s non-oil economy, and the cost of job creation in Riyadh is 30 percent lower than other cities in Saudi Arabia, while infrastructure and real estate development costs are said to be 29 percent lower.
The strategy also aims to improve Riyadh in terms of quality of life, tourism and education through various initiatives that cover different sectors, he added.
(Only the headline and image of this report may have been revised by Business Standard staff. The rest of the content is automatically generated from a syndicated feed.)
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