icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Progressive Saudi Arabia… vision or mirage? RT’s Boom Bust will tell you more

Progressive Saudi Arabia… vision or mirage? RT’s Boom Bust will tell you more
Riyadh aims to create a $500 billion mega city possibly funded by the IPO of the nation’s oil giant Saudi Aramco. The project is part of the kingdom’s ‘Vision 2030’ initiative to make the country less reliant on crude exports.

RT correspondent Alex Mihailovich told Boom Bust it’s an ambitious and massive project. Saudi Crown Prince Mohammed bin Salman “has made it very clear that he wants to see Saudi Arabia change, move away from oil to high tech,” he says. The city will be fuelled completely by renewables (wind and solar) and has already attracted international interest.

“The process is very progressive and could possibly bring Saudi Arabia into a new day where it could be a progressive leader, something that we haven’t seen in the past for that country…,” Mihailovich explained.

For more stories on economy & finance visit RT's business section

Podcasts