Egypt - The Ministry of Investment of Saudi Arabia (MISA) recently hosted Spanish Tourism Minister María Reyes Maroto in a bilateral investment forum aimed at strengthening investment partnerships in sustainable tourism.

The forum, attended by Abdulrahman Al Fadhli, Saudi Minister of Environment, Water and Agriculture and Ahmed Al Khateeb, Minister of Tourism, took place on the sidelines of the 116th session of the United Nations World Tourism Organization in Jeddah.

Abdulrahman Al Fadhli, Minister of Environment, Water and Agriculture, said: “Saudi Arabia and Spain have historic bilateral ties dating back sixty years and today signifies our shared ambitions to seize investment opportunities and unleash growth with our tourism industries. This is yet further evidence of the growing confidence that businesses around the world have in Saudi Arabia as an investment destination of untapped opportunity.

“As the Kingdom wide-sweeping economic and social reforms continue to transform the Kingdom, our National Investment Strategy will continue to unlock game-changing investment opportunities in the tourism sector.”

Ahmed Al Khateeb, Minister of Tourism, said: "I was very pleased to share our vision and plans with Spanish businesses in Riyadh today. Saudi's fast-growing tourism sector is one of the most exciting opportunities in the world. Last year was a record year for domestic tourism, and we are aiming to attract 70 million international and domestic visitors this year. We already benefit from Spain’s experience and expertise in tourism, and hope that more Spanish businesses will join the many leading international partners already working with us."

The forum follows several successful events hosted this year by the Ministry of Investment to bolster global bilateral relationships and support foreign investment attraction.

Ahmed Al Khateeb and María Reyes Maroto also met on the sidelines of the fifth edition of the Future Investment Initiative in October last year. Earlier this year the Saudi government announced plans to invest a further $1 trillion dollars in the tourism sector over the next ten years. 

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