Riyadh: The Ministry of Economy and Planning has signed a memorandum of understanding (MOU) with NEOM Company, aiming to strengthen bilateral cooperation and exchange experiences in overseeing and supporting economic and statistical activities within NEOM.

The MOU was signed today at the Ministry's headquarters in Riyadh, with the Minister of Economy and Planning, Faisal Alibrahim, and the CEO of NEOM Company, Eng. Nadhmi Al-Nasr, representing their respective organizations.

This collaboration leverages the Ministry's extensive expertise in economic and statistical sectors across the Kingdom. NEOM Company, the principal developer of the ambitious NEOM project, will benefit from this knowledge to enhance the management's implementation of the strategy and promote economic development, ultimately maximizing the project's economic impact and boosting competitiveness.

As part of the MOU, both parties will establish a steering committee comprising representatives from each side. This committee will be responsible for strategic supervision, cooperation, and continuous coordination to achieve the objectives outlined in the memorandum. It will also ensure the application of cooperative principles between the two entities, contributing to NEOM's goals and supporting economic diversification, a key objective of Saudi Vision 2030.