NEOM tops in Forbes’ list of 10 future Saudi companies
Saudi Arabia’s $500 billion futuristic
giga-project NEOM has won the top position in Forbes’ new list of Top 10
Economies of the Future Companies in Saudi Arabia.
NEOM is included in 40 companies that Forbes has
divided into four categories to highlight the Kingdom’s most
progressive firms.
Forbes has prepared the list in cooperation
with Saudi Arabia’s Research, Development, and Innovation Authority. Neom
claims
the third position in category of 10 most innovative companies in Saudi
Arabia.
The report noted that the giga city
relies heavily on 5G hyperconnectivity, Artificial Intelligence, robotics,
purpose-built data centers, big data analytics, augmented virtual reality,
and automated guided vehicles within its mega
projects: Trojena, Oxagon, and THE LINE.
The report further says that the Saudi crown
prince Mohammed bin Salman has invested $1 billion in AI, including a metaverse
platform in 2022, through NEOM Tech & Digital Co.
The Saudi Telecom Co., also known
as stc, was revealed as the Kingdom’s second Economy of the Future
Co., whereas Al Rajhi Bank stood at third place.
According to Forbes, the Saudi oil giant
Aramco led the way as the most innovative company as well as the top
energy and industrial leadership company.
With 70 percent of its shares owned by
Aramco, the Saudi chemical manufacturing company SABIC came in second in
innovation and energy and industrial leadership in 2022.
The Forbes predicted that Saudi Arabia was on the
way to becoming a global innovation powerhouse. It appreciated Saudi Arabia’s world-class
infrastructure, a young, educated workforce, large companies with big capital,
and supportive leadership to realize this goal.
Source: https://www.arabnews.com/
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