Capital Economy, Business and Finance
Last summer, three workers died building the futuristic Saudi megacity Neom. Responding to the deaths, one executive reportedly said: “You can’t train for stupidity.” The project is proving a magnet for executive misconduct, according to a WSJ investigation that finds one top manager is under investigation for corruption in his home country. It was reported this week that Saudi Arabia has launched property and infrastructure projects worth $1.3 trillion since Crown Prince Mohammed bin Salman announced his Vision 2030 plan eight years ago to wean the country off its dependence on oil. The biggest slice – $28.7 billion – has gone to Neom, which tells the WSJ its top priority is protecting the welfare of employees.
