NEOM heads to China to attract investment

China Inc lining up as large investor and partner to NEOM

Neom's leadership team is touring China, engaging with potential investors and partners to discuss the future of urban living, according to media coming out the country.

The tour, part of a larger roadshow, commenced in mainland China and is set to conclude in Hong Kong, drawing attention from top industry leaders and organisations.

The Hong Kong leg of the roadshow, titled "Discover Neom," is organised in collaboration with the Belt & Road Office under Hong Kong’s Commerce and Economic Development Bureau.

It promises a comprehensive glimpse into Neom's innovative projects through a series of presentations and immersive experiences. According to an invitation obtained by the Post, the event is slated to feature a "New Future by Design Tour" and an evening reception from 6 pm to 9 pm.

Could China replace the West?

Shawn Cai of Meddcom, who was at the event, said: “In the current situation where Western media generally denigrates NEOM's new future city, Saudi Arabia chose this moment to conduct a foreign visit and chose Beijing, China, as its first stop.”

He added, “I believe that in the near future, with the support of Chinese companies, wonders embodying the wisdom of all mankind will stand in this desert.”

Tse Yung-hoi, vice president of the Chinese General Chamber of Commerce in Hong Kong, expressed enthusiasm about the potential opportunities stemming from the Middle East's diversification efforts. "The construction of Neom is of great significance. The Middle East’s move toward diversifying its business and economy is creating boundless opportunities for us," Tse noted.

Key local organizations such as the Chinese Manufacturers’ Association of Hong Kong, the Law Society of Hong Kong, and the Federation of Hong Kong Industries have also been invited to participate in the roadshow. These invitations underscore Neom’s commitment to fostering deep ties within the region's influential circles.

On April 19, attendees at the roadshow will delve into Neom’s pioneering strategies in urban design and sustainable living, focusing on creating a zero-carbon, nature-first environment. The event will also allow guests to engage directly with Neom’s leaders to explore significant investment and partnership opportunities.

The following day, an additional talk organized by the Hong Kong government will further examine the themes of "Future City Development – Green and Digital" at M+. Francis Fong Po-kiu, honorary president of the Hong Kong Information Technology Federation, confirmed their participation, highlighting the interest from the tech sector in Neom’s futuristic plans.

A former Neom executive shared insights on the strategic importance of the China tour, revealing that it was designed to attract fresh investments into what was initially a $1.5 trillion project.

Despite recent adjustments in the project's scope, including a reduction in the estimated population and size of its centrepiece, The Line, the initiative continues to seek expansive collaboration, particularly with East Asian high-tech firms.

Read more with our latest response blog to the Bloomberg article citing unnamed sources.