Knowledge Economic City (KEC) in Madinah is one of many megaproject launched by the government in recent years to diversify the country’s economy and decrease dependence on oil.
The Economic Cities concept include five other projects, three of them have been launched in Rabigh, Hail and Jazan, and two more are expected to be launched later this year in Tabuk and the Eastern Province. It is still not known where exactly in the EP they plan to build the economic city, but I hope they choose either Qatif or Ahssa as both regions has not received the development they deserve in the past.
Building huge projects like these is a big challenge, and making them work efficiently is a bigger challenge. SAGIA, the government’s arm that oversees these projects, have a vision for the economic cities contribute between a quarter and a third of the aspired national growth rate, to create over a million jobs, and to become home to 4-5 million residents by 2020.
KEC, with a total investment worth US$ 7bn, is particularly interesting because it will focus on knowledge based industries, tourism and services. As part of their effort to raise awareness and create excitement around the project, SAGIA are organizing the first ever Islamic Conference for Science & Knowledge (Noor). The event will take place later this month in Madinah.
I hope that some bloggers from the Western region would register to attend the event as it will tackle some topics of importance to them such as healthcare and information communications technology. I would like to attend but I won’t be done with my finals until the 23rd, and on the 25th I will leave the Kingdom to attend the GV Summit 08 in Budapest, Hungary.