Title : Prince Salman's Plan "On Hold" -- August 7, 2017
link : Prince Salman's Plan "On Hold" -- August 7, 2017
Prince Salman's Plan "On Hold" -- August 7, 2017
I track the "Prince Salman Plan" at the sidebar at the right."On hold."
From Bloomberg:
The kingdom is converting thousands of square kilometers of sand into new cities as it seeks to diversify away from crude, create jobs and boost investment.
In the past month alone, the world’s biggest oil exporter has announced two major developments -- one covering an area bigger than Belgium and another almost the size of Moscow. That’s on top of plans to build a series of so-called economic cities -- special zones in logistics, tourism, industry and finance, an entertainment city and a $10 billion financial district.
The overall progress with the economic cities has been very slow, even before the collapse of the oil price,” said Monica Malik, chief economist at Abu Dhabi Commercial Bank PJSC. “Since then, the pace of development has moderated even further with a number of projects being placed on hold.”
"The plan" has gone from "very slow" to "moderated even further with a number of projects being placed on hold."Solar energy is one of those projects being placed on hold; see earlier posts.
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