BlackRock, a leading investment firm, is launching a new platform in Saudi Arabia with a $5 billion investment from the country's sovereign wealth fund. The platform, called BlackRock Riyadh Investment Management (BRIM), aims to attract foreign investment and develop Saudi Arabia's financial industry by offering various investment options. This move is part of the kingdom's Vision 2030 plan to diversify its economy and become a hub for international investment.
Saudi Arabia's $1.5 trillion futuristic city project, NEOM, remains at its intended scale, contrary to reports of downsizing. The economy minister emphasizes that all projects are progressing as planned, including The Line glass-walled city, despite concerns about finances. Decisions are being made to optimize economic impact, but there is no change in the ultimate vision.
