Middle East Mirror

  <div class='footer-credits'>   Templateify | Powered by Blogger </div> </footer> Templateify Saudi Arabia’s Vision 2030 aims to diversify its economy and reduce its dependency on oil. One of the most ambitious projects under this vision is Neom, a $500 billion eco-city planned to stretch over 26,500 square kilometers in the Saudi desert. With promises of cutting-edge technology, sustainable living, and revolutionary urban planning, Neom has captured global attention. However, many questions remain about its feasibility, sustainability, and the socio-political implications of such a grandiose project. Neom’s Ambitious Vision Neom’s developers envision a futuristic city with features such as glow-in-the-dark beaches, billions of trees planted in a desert, levitating trains, and even a fake moon. Central to Neom is “The Line,” a 170-kilometer-long city designed to be car-free and carbon-free, where everything residents need will be within a five-minute walk. T...

The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is Saudi Arabia's sovereign wealth fund, established in 1971. It is one of the largest sovereign wealth funds globally, with estimated assets of approximately US$925 billion (£726.3 billion). The PIF was created to invest funds on behalf of the Saudi government, and it plays a crucial role in the country's economic diversification efforts under the Vision 2030 plan.   Governance and Leadership The PIF is controlled by Crown Prince Mohammed bin Salman, who has been the de facto ruler of Saudi Arabia since 2015. Yasir Al-Rumayyan serves as the Governor of the fund. The PIF operates from its headquarters in Riyadh, Saudi Arabia. Investments and Strategy More than 60% of the PIF's activities are concentrated within Saudi Arabia. The fund's domestic investments primarily target private conglomerates owned by prominent Saudi business families closely connected to the ruling family. This strategy supports the k...