Saudi Arabia sets up 100 tourism firms in less than a year: Al-Khateeb

Ahmed Al-Khateeb, Saudi Arabia’s Minister of Tourism

Saudi Arabia’s Minister of Tourism Ahmed Al-Khateeb said that 100 tourism firms were founded in less than a year, noting that the ministry relies much on the private sector to arrange various tourism campaigns and programs.

In response to a question by Argaam in the dialogue session held on May 1, 2021, on the occasion of the five-year passage of Saudi Vision 2030, Al-Khateeb said the Ministry of Tourism will support the private sector, to boost its contribution to this industry.

Following the announcement of the National Tourism Development Strategy, four sub-entities were formed – of which the first is the ministry as the regulator, legislator and supervisor of the sector. It issued several regulations to make investment in the sector more attractive, Al-Khateeb added.

The second sub-entity is the Supreme Commission for Tourism (SCT), which unveils tourism program. The third is the Tourism Development Fund that empowers the private sector.

The fund offers finance services to small and medium enterprises (SMEs) and large enterprises, Al-Khateeb explained, noting that over 60 loans of up to SAR 200 million were offered by the fund. The projects financed by the fund are valued at almost SAR 1 billion.

Tourism Development Council is the fourth sub-entity that comprises the majority of ministries to address challenges, Al-Khateeb noted.

Elsewhere, the Saudi minister described the issuance of 450,000 visas in four months before the COVID-19 pandemic as a “very encouraging beginning”.