The manufacturing facility located in Saudi Arabia's planned city of NEOM would produce chips, displays, and EV components.  The new factory will be located in the city of NEOM in the Tabuk Province of northwestern Saudi Arabia. The one problem being, NEOM doesn't exist yet. The Saudi government announced NEOM back in 2017 and is planning to complete the first section by 2025. When finished, it's expected to become a new economic zone covering 10,000 square miles at an estimated cost of $500 billion.

Those in charge of NEOM are creating a city where you can go snorkelling by the beach and ski down snow-topped mountains on the same day.  Mountain destination TROJENA, set to open in 2026, will have a ski village, ultra-luxury family and wellness resorts, a wide range of retail stores and restaurants, as well as water sports, mountain biking and an interactive nature reserve.

NEOM Company announced on Wednesday that Rayan bin Mohammed Fayez has joined the top management team at NEOM.  The company has experienced rapid growth and expansion since it started its delivery phase early last year, as the company spent the period prior to that focusing on preparing the detailed strategies for all sectors and projects.

Executives from the Saudi crown prince’s "NEOM" megaproject have invited bankers and investors to a meeting in New York next month as they try to drum up international interest in their $500 billion plan to build a high-tech hub from scratch.  NEOM’s chief executive Nadhmi Al-Nasr and finance sector head Layth Al-Shaiban are scheduled to attend the event in early April, according to people familiar with the matter. Invitations were sent to private equity firms, bankers and construction suppliers for the gathering, which aims to gauge interest in the project, one of the people said. It’s potentially one of a series of events in multiple American cities, and follows a similar event in London last year, another person said.

His Royal Highness Mohammed bin Salman, Crown Prince and Chairman of the NEOM Company Board of Directors, has announced the establishment of TROJENA – the new global destination for mountain tourism, part of #NEOM's plan to support and develop the tourism sector in the region.

The Crown Prince said: “TROJENA will redefine mountain tourism for the world by creating a place based on the principles of ecotourism, highlighting our efforts to preserve nature and enhance the community’s quality of life, which is aligned with the goals of the Kingdom’s Vision 2030. It also confirms our commitment to be part of the global effort to protect the environment. TROJENA will be an important addition to tourism in the region, a unique example of how Saudi Arabia is creating destinations based on its geographical and environmental diversity. This forward-looking vision will ensure that mountain tourism will be another revenue stream to support the Kingdom’s economic diversification while still preserving its natural resources for future generations.”

Saudi Arabia will be a key driver of global trade growth with its exports projected to expand at an average annual rate of more than 7 per cent to $354 billion by 2030 as the country diversifies its economy away from oil, Standard Chartered said in a report on Tuesday.  Metals and minerals, plastic and rubber, chemicals and pharmaceuticals will dominate the kingdom's exports over the next decade, with India, China and South Korea being the principal export markets, Standard Chartered said.

LuLu Hypermarket is at the forefront of a smart city revolution sweeping Saudi Arabia and has opened the first Express Store in the NEOM Community. The new store features all the conveniences of LuLu Hypermarket offerings in terms of wide varieties of grocery as well as quality and affordability.