Crown Prince Muhammad bin Salman revealed the launch of the Riyadh strategy, and work on strategies for other cities.

Prince Mohammed bin Salman said, “We aim to make Riyadh one of the 10 largest city economies in the world.”

While noting that the city of Riyadh constitutes 50% of the non-oil economy in Saudi Arabia, he said: “The cost of creating a job in Riyadh is 30% less than any other city, and the cost of developing infrastructure and real estate in Riyadh is 29% less than that of Saudi cities.”

He said that the largest industrial city in the world will be announced in Riyadh.

He stated, “The infrastructure in Riyadh is wonderful because of what King Salman has done for 50 years.”

Noting that Riyadh is one of the pillars of economic growth in Saudi Arabia, he said, “We aim for the population of Riyadh to reach 15-20 million in 2030,” noting that Riyadh is among the top 10 infrastructure in the world.

In response to a question, Prince Mohammed bin Salman stressed that Riyadh is a very big opportunity to create economic, industrial and tourism growth in Saudi Arabia.

He added, “Riyadh aims to develop its infrastructure and raise the quality of life in a better way,” stressing that Riyadh’s strategy will be ambitious and positively surprise the Saudis and the world.

He noted work on plans to establish huge reserves around Riyadh to improve its environmental status.

Prince Mohammed bin Salman said that cities are a “major axis” in development, noting that global economies are based on cities and not countries, as 85% of the world’s economies come from cities, and this percentage will rise to 95% in the coming period.

The activities of the fourth session of the Future Investment Initiative were launched in Saudi Arabia yesterday, which is a conference held by several countries around the world under the title “New Economic Renaissance”.

The forum, which ends today, Thursday, in its fourth session, includes a group of CEOs, investors and policy makers, who will discuss ways to move towards a new era of reinvention.

Some of the world’s most influential investors and technology leaders are meeting for two days for a truly global dialogue. SoftBank Group Chairman and CEO Masayoshi Son, Chairman, CEO and Co-founder of Blackstone Stephen Schwarzman will discuss how to empower Artificial intelligence to become an important engine for economic renaissance and job growth, and how it can contribute to providing solutions to global challenges in the fields of health care, climate change, and others.

During the activities of the second day of the conference, the speakers will discuss the type of investments that a generation of entrepreneurs may create in the space field, and whether artificial intelligence will lead to the revival of the global economy, and one of the sessions will discuss the role of the pandemic in promoting digital currencies and innovative financial methods around the world. .