The Royal Commission for Riyadh City hosted delegates from the Bureau International des Expositions or BIE.
The BIE will decide on Nov. 28, at its 173rd General Assembly, which city will host World Expo 2030. Saudi Arabia is competing against Italy and South Korea to host the global gathering.
The Saudi Press Agency reported that the Kingdom has allocated $7.8 billion in investments to host Expo 2030 in the capital, Riyadh.
Saudi Minister of Investment Khalid Al-Falih said, “The exhibition’s budget amounts to $7.8 billion, which is a stimulating amount for our broader investment plans in Riyadh, and as part of Saudi Vision 2030, which targets investments at a national level of more than $3.3 trillion by the end of the decade.”
The Minister added that the exhibition will be “a global center for meeting local and international companies alike and exploring investment development topics, through the (Global Investment Laboratory) that the Kingdom will launch and will be a global center for innovation. We will also launch a procurement center that will facilitate the participants’ design, implementation, and construction of their pavilions in the exhibition, to “Together we build the World’s Fair for the world.”
Jerry Inzerillo, Group CEO of the Diriyah Development Co., in his speech, said Riyadh has the infrastructure in place for the event, including 70,000 new hotel rooms. All the hotels will be accessible, via the newly developed metro, to King Salman Airport, which is currently under construction. At 57 million square meters it is going to be one of the biggest airports in the world. The country’s new airline, Riyadh Air, will have flights to 100 countries by 2025, said Inzerillo.
This came in tandem with the winning of Saudi Arabia to host the World Cup in 2034 and the kingdom supposed to host the men’s Asian Cup in 2027. As the keenness of Saudi Arabia to diversify its economy in the light of Vision 2030. Saudi Arabia is working on revamping its stadium in preparation to host all these events and to be in line with FIFA standards.
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