15 Shawwal 1443 - 16 May 2022
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Eye of Riyadh
Business & Money | Thursday 17 June, 2021 7:44 am |

SAOC, NEOM sign MoU to develop competitive sports ecosystem

The Saudi Arabian Olympic Committee (SAOC) has Wednesday announced the signing of a five-year Memorandum of Understanding (MoU) with the NEOM to collaborate on developing and enhancing a globally competitive sports ecosystem within Saudi Arabia.


Signed by Minister of Sports Prince Abdulaziz Bin Turki Al Faisal, president of the Saudi Arabian Olympic Committee, and Nadhmi Al-Nasr, NEOM chief executive officer, the agreement sets out plans for the two bodies to collaborate on the development of the Saudi Arabian sporting ecosystem and to enhance its collaboration and competitiveness on the world stage. It also encourages partnership in the development of a national strategy for sport across the country.


Prince Abdulaziz stressed that the MoU is designed to enhance cooperation between the Olympic Committee and NEOM as they seek to develop sporting centers of excellence for specific sports, which NEOM will plan, design and host.


It also provides a road map to hosting international sports events through joint working groups with representatives from the Ministry of Sports and the Saudi Olympic Committee. Collectively, these activities will help ensure that the Kingdom’s sports activities align with Vision 2030.



The MoU also provides scope for NEOM to assist the Saudi Arabian Olympic Committee in realizing its objectives whilst pushing ahead with the development of a sporting infrastructure, including The Concept Lab, NEOM’s sport tech and innovation hub.


Commenting on the MoU, Al-Nasr said, “This partnership is a natural extension of our existing strategy to make NEOM a future international sports destination capable of generating innovative investment opportunities and engendering a greater understanding of active lifestyles in the Kingdom.


“This agreement further emphasizes the shared ambitions between our two organizations, which will put NEOM on the global map as a modern hub for global sports.” — SG

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