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FILE PHOTO: Saudi Crown Prince, Mohammed bin Salman arrives at the opening session of the Future Investment Initiative Conference in Riyadh, Saudi Arabia, October 26, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS/File Photo - 

Saudi Arabia intends to bid to host the Expo 2030 world fair, Saudi Crown Prince Mohammed bin Salman said on Friday (Oct 29), part of the de facto ruler's push to transform the kingdom's economy and diversify it away from oil.

The Saudi capital Riyadh has submitted a formal request to host Expo 2030 under the theme "The era of change: Leading the planet to a foresighted tomorrow", a statement said.

Gulf neighbour and regional business hub the United Arab Emirates, which is increasingly in economic competition with Saudi Arabia, is currently hosting the Expo 2020 world fair, which was delayed for a year by the COVID-19 pandemic.

The UAE Vice President and ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum tweeted his support for the Saudi bid, saying "We will give our brothers access to the knowledge and experience we gained throughout seven years of preparation for the Expo".

The bid, which was submitted to the expo organising body the Bureau International des Expositions (BIE), will be led by the Royal Commission for Riyadh City.

Prince Mohammed said the 2030 Expo in Riyadh would coincide with the culmination of the kingdom's economic reform program known as Vision 2030, and allow the kingdom to share lessons from that programme//CNA