NEOM to bet set up as joint-stock company owned by PIF
KSA has set up NEOM, a planned USD500bn mega economic zone, as a closed joint-stock company fully owned by the Public Investment Fund, Saudi state news agency SPA reported on Tuesday. The change in the legal status of NEOM will allow the company to create 16 economic sectors. This comes after KSA announced earlier this month that it plans to start developing the first area of NEOM in 1Q19.
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