Saudi Arabia's economy minister rejected recent reports that the kingdom's $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans.
"All projects are moving full steam ahead," Faisal Al Ibrahim told CNBC's Dan Murphy on Monday at the World Economic Forum's special meeting in Riyadh.
"We set out to do something unprecedented and we're doing something unprecedented, and we will deliver something that's unprecedented."
Al Ibrahim stressed that the projects would be delivered according to plan, but with the qualification that decisions were being made for "optimal economic impact."
"We see feedback from the market, we see more interest from the investors and we'll always prioritize to where we can optimize for optimal economic impact," he said.
Persons:
Faisal Al Ibrahim, CNBC's Dan Murphy, Al Ibrahim, we'll
Organizations:
Bloomberg, Saudi, NEOM, Public Investment Fund
Locations:
Saudi, Riyadh