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Riyadh – Investment advisor at the Saudi Ministry of Tourism, Abdul-Majeed bin Abdul Mohsen Al-Nasser, announced that a new hotel licencing regulation will be offered to the public within days.
The kingdom’s Tourism Development Fund is about to launch a new financing programme for small and medium-sized enterprises (SMEs), to be available in the first quarter (Q1) of 2021, Al-Nasser said during a remote meeting held by Asharqia Chamber, represented by the Qatif Business Council.
He added that the fund has a special Board of Directors (BOD) responsible for approving financing operations that may exceed 50%.
By 2030, the tourism ministry aims to contribute 10% to the gross domestic product (GDP), increase the number of tourist visits to 100 million, provide around 1.6 million job opportunities, support the local private sector while attracting foreign direct investment (FDI).
Al-Nasser further noted that the 2030 tourism roadmap is divided into two main stages; the first one, named Discover Saudi Arabia, lasts until 2022 before mega-projects are launched, and the second one starts from 2022 to 2030, under the name, Live the Saudi Experience.
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