Minister of Industry and Mineral Resources Bandar Alkhorayef
NEOM Industrial City (OXAGON) will be Saudi Arabia's window to the world through its qualitative investments in new technologies, Al Arabiya TV reported, citing Minister of Industry and Mineral Resources, Bandar Alkhorayef.
He said that the Kingdom desires to be a technology exporter rather than an importer. The city will provide an opportunity for willing investors.
OXAGON will also focus on renewable energy, as the whole city and its investments will be based entirely on renewable energy, which is considered a qualitative leap in the Kingdom’s industrial sector.
He indicated that the launch of OXAGON coincided with the announcement of companies that have already started investing in the region in technical solutions and renewable energy.
The city will be a window for new and promising industries, incubate innovation and creativity, and focus on the environment and its preservation, Alkhorayef noted.
On Nov. 16, Crown Prince Mohammed bin Salman, Chairman of NEOM, announced the establishment of OXAGON, which represents another step in NEOM’s masterplan. It aims to provide a new model for future manufacturing centers, as part of NEOM’s strategy, according to data compiled by Argaam.
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