Riyadh: – Saudi Crown Prince, Mohammed Bin Salman, has announced plans to build the world’s first non-profit city. The city is part of a plan to develop a non-profit sector internationally. Moreover, Saudi claims that this will be a hub for energy and incentives for youth and volunteer groups. This is the third time in four years that the Saudi monarchy has announced plans to build a unique and independent city. Earlier, Crown Prince Mohammed bin Salman had announced the construction of cities’ Neom’ and ‘The Line’.
On Saturday, Crown Prince Mohammed Bin Salman announced plans to build the world’s first ‘non-profit city’ near the capital, Riyadh. ‘The world’s first non-profit city is being built in line with the objectives of the MISK Foundation in Saudi Arabia, to promote research and entrepreneurship and nurture future leaders. The opportunities available in the city will be centred around the non-profit sector. We will try to provide a better environment for all those who come to the city and contribute to it,’ said Crown Prince Mohammed Bin Salman.
The world’s first non-profit city will be built in the Irkah area near the city of Riyadh. The city covers an area of 3.4 square kilometres and as per revealed information, more than 44% of the city will be green open space. According to an article published by the Saudi News Agency, the non-profit city is an ‘advanced digital metropolis’. According to a report published by Saudi News Agency, it will be using the digital twin model. The city will also have an integrated civic complex and educational institutions, a museum, an art academy, an advanced technology research centre and a conference centre.
Saudi Arabia is known as a fuel-dependent economy. But the sharp fall in fuel prices over the past decade hit the Saudi economy hard. In the wake of these shocks, Saudi Crown Prince Mohammed bin Salman announced an ambitious plan called ‘Vision 2030’. Accordingly, efforts are being made to change the image of Saudi as a fuel-dependent economy and promote technology, tourism and other industries. As a part of this, a city-based on advanced technology, ‘Neom,’ was announced in 2017.
Related posts:
Qatar exits OPEC, the association of the oil producing countries
New indications of decline in the European economy; negative atmosphere in France and Germany
Europe at the brink of a new economic crisis, claim economists and analysts
Corona slows down the Japanese economy
Saudi and Arab countries must boycott Turkey completely, appeals Saudi official
Egypt’s new naval base on Mediterranean coast commissioned in presence of UAE Crown Prince
Sri Lankan economy in major crisis; lacks funds to repay loans, foreign reserves drop
Chinese action against its private sector threatens China’s status as economic superpower, claim US analysts
