What Is Neom? and How to Open a Company There?

Table of Contents

In the current global context, as the Fourth Industrial Revolution looms on the horizon, where technology, humanity, and nature intertwine, NEOM emerges as a symbol of what’s possible when vision, ambition, and innovation converge. This article, enriched with insights and expert guidance will provide an outlined roadmap for businesses and entrepreneurs aiming to be part of this transformative journey.

NEOM, the brainchild of Saudi Arabia’s Vision 2030, is a beacon of innovation and a testament to the Kingdom’s ambitious strides towards diversifying its economy. But What Is NEOM, and how can businesses establish a presence in this future city?

What Is NEOM?

NEOM is not just a city; it’s a vision. Unveiled in 2017 by Prince Mohammed bin Salman, NEOM is Saudi Arabia’s flagship business and tourism development project. Situated on the pristine Red Sea coast, this mega-city is a central pillar of the Kingdom’s Vision 2030, aiming to shift the economic focus from oil to diverse sectors.

The unique geographical location of NEOM provides a strategic advantage, linking three continents and offering businesses direct access to both Saudi and global markets. This positioning, combined with its state-of-the-art infrastructure, makes it a hotspot for investors and entrepreneurs worldwide.

The name “NEOM” is not just a label but a representation of the city’s essence and ambition. It is derived from two words: the Greek word “Neo,” meaning “new,” and the first letter “M” from the Arabic word “Mostaqbal,” which translates to “future.” Thus, NEOM can be interpreted as the “New Future”.

This nomenclature isn’t just symbolic but it perfectly encapsulates the city’s vision: to craft a new paradigm for the future, where sustainability, technology, and human-centric design overlap.

Learn More about NEOM’s Vision and Mission

NEOM City Project

The NEOM City Project is a project for the city of the future, located in the northwestern part of Saudi Arabia, NEOM spans a staggering 26,500 km², almost the size of Belgium. With a coastline stretching 468 km and encompassing 41 pristine islands, the region offers a blend of sun-soaked beaches and snow-capped mountains, making it a haven of natural beauty.

By 2024, the first regions of NEOM will open to visitors, with the ambitious goal of housing one million residents by 2030, and an expected nine million by 2045. This rapid development is backed by a significant investment of USD 500 billion from the Public Investment Fund of the Kingdom of Saudi Arabia, supplemented by local and international investors.

NEOM aims to collaborate with the foremost global enterprises spanning various sectors. If your company resonates with NEOM’s forward-thinking objectives, NEOM invites you to join as a partner in one of these sectors: Design & Construction, Education, Energy, Entertainment & Culture, Financial Services, Health & Wellbeing, and more. This diversity ensures that NEOM isn’t just a residential city but a global hub for innovation and business.

The ethos of NEOM is rooted in sustainability and innovation. It’s set to be powered by 100% renewable energy, emphasizing the commitment to a sustainable future. Moreover, 13% of global trade passes through the Red Sea, positioning NEOM as a strategic economic powerhouse. The city is also designed to be a special economic zone, ensuring a conducive environment for businesses and investors.

Steps to Register as a Supplier

Are you considering registering as a supplier in NEOM, Saudi Arabia? NEOM is a groundbreaking project that aims to create a futuristic and innovative city in the heart of the desert. If you’re interested in becoming a part of this visionary initiative, here’s a comprehensive guide to help you navigate the process.

Within only 45 minutes, registering as a supplier offers exciting opportunities to contribute to the development of a visionary city. By following these steps and guidelines, you can position your company to be a part of this transformative endeavor.

Step 1: Understand the Requirements

Before diving into the process of registering as a supplier, it’s crucial to understand the requirements and guidelines set by NEOM. They encourage prospective partners and suppliers to browse their official website, and check sectors, and navigate the benefits.

Step 2: Prepare Required Documents

NEOM requires specific documents for registration, which vary based on your company type. These documents must be prepared in PDF format and submitted through the designated channel. Ensure that you have all the necessary documents in order to proceed with the registration process..

Step 3: Self-Registration Process

  • Visit the NEOM Suppliers portal.
  • Click on the ‘register’ button.
  • Download the ‘supplier authorized letter’ provided on the portal.
  • Complete your details and upload a supporting document that proves your authority to sign documents on behalf of the company (e.g., power of attorney, board resolution, copy of commercial registration).
  • Accept the Terms and Conditions (T&Cs).
  • Submit your application for review.

Step 4: Supplier Questionnaire

Once your initial supplier request is approved, you’ll receive an email inviting you to complete the ‘supplier questionnaire.’ This questionnaire is a vital step in the process and allows NEOM to better understand your business and capabilities. Fill out the questionnaire thoroughly and share it with NEOM as instructed in the email.

Step 5: Review and Communication

NEOM will review your application and questionnaire. If there are any difficulties or concerns, they encourage you to reach out for assistance. it aims to foster a collaborative and supportive environment for potential partners and suppliers.

One of the benefits a registered supplier receives is visibility of planned NEOM tenders – up to two years in advance and across all sectors and category types.

Why NEOM is the Ideal Business Destination

Innovative Ecosystem: NEOM is designed to foster innovation, with a focus on sectors like biotech, advanced manufacturing, and entertainment.

Strategic Location: Its unique position offers businesses unparalleled access to global markets.

Supportive Infrastructure: From advanced transportation systems to cutting-edge digital infrastructure, it provides businesses with the tools they need to thrive.

Tax and Financial Incentives: The Saudi government offers attractive incentives for businesses setting up in it, making it financially viable.

How Setup.sa Streamlines Your NEOM Business Journey

Comprehensive Research and Planning with Setup.sa

With Setup.sa by your side, which is offered to you Business Setup in Saudi Arabia, you’re equipped with in-depth research and strategic planning tailored to your business needs, ensuring you’re well-prepared for the journey ahead.

Seamless Registration Assistance by Setup.sa

Choosing the right business structure is just the beginning. When it comes to the pivotal registration process, Setup.sa offers unparalleled guidance. Drawing from a wealth of resources, including insights from the NEOM business partner guide, we ensure your registration is smooth and hassle-free.

Operational Mastery with Setup.sa

Post-registration, the intricate task of setting up operations commences. Whether it’s finding the prime location, hiring the best talent, or navigating NEOM’s cutting-edge regulations, Setup.sa stands as your trusted ally, guaranteeing operational excellence every step of the way.

Unparalleled Expertise from Setup.sa

The path to establishing a business in a visionary city like NEOM is laden with challenges. However, with Setup.sa’s unmatched expertise in soft-landing and incorporation, you’re not merely overcoming these challenges; you’re transforming them into milestones of success.

Conclusion

NEOM, short for ‘New Future’, is more than just a city; it’s a vision for the future. As Saudi Arabia marches forward with its Vision 2030, NEOM stands as a testament to the Kingdom’s ambitions and its commitment to diversify its economy. We hope we answered your question about what NEOM is and how you could register your company there as a supplier. For businesses looking to be part of shaping this future, the time to act is now.