Saudi tourism authority took on 98 projects in 2017

24/09/2017 Argaam

The Saudi Commission for Tourism and National Heritage has started on 98 projects this year, in line with the National Transformation Program (NTP) to boost the sector and the Kingdom’s entertainment industry, state-run Saudi Press Agency has reported.

 

Up 79 percent year-on-year, the authority this year has a gross project budget of SAR 1.11 billion, its highest since inception.

 

Earlier this year, the Saudi cabinet approved two new initiatives to finance hotel and tourism projects within the framework of the Kingdom’s economic reforms. These include a SAR 2.7 billion financing plan in cooperation with the finance ministry, as well as SAR 1.5 billion financing for small and medium enterprises (SMEs).

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