Saudi Arabia's heritage and investment bodies collaborate for tourism funding

RIYADH: The Saudi Commission for Tourism and National Heritage (SCTH) and the Saudi Arabian General Investment Authority (SAGIA) are working together to support tourism investment in the Kingdom.
Prince Sultan bin Salman, SCTH president and Prince Saud bin Khalid Al-Faisal, the acting governor of SAGIA, held a meeting to discuss issues related to cooperation between the two organizations and proper ways of developing the investment environment in the tourism sector, the SCTH media department said Thursday.
The next phase will be the signing of an agreement of cooperation to support the joint efforts on tourism investment, it added.
“We look at SAGIA as a major partner in the national economy, which focuses on investments and we welcome the cooperation and integration between SCTH and SAGIA, which has set a major course for investment in tourism as one of the main tracks for the future of investment in the Kingdom,” Prince Sultan said.
He also said that during the coming period, competitiveness in the tourism sector would be enhanced to increase the level of tourism experience and increased readiness.
The SCTH chief maintained that investment opportunities in the tourism sector have a multiplier effect on the high economic returns, promoting local development in the less developed regions as well as jobs for citizens of different ages and educational levels.
As the tourism and heritage have become a strong economic industry and a key generator of investment, the SCTH has prepared many locations for citizens to invest in this sector.
Moreover, several tourism projects will be announced this summer to support the tourism investment.