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FinancialNews


  • 02-10-21

    Saudi Arabia’s Public Investment Fund to invest USD6.6B into Asir region

    (MENAFN) An official at Asir Development Authority declared that Saudi Arabia’s Public Investment Fund is planning to invest SR25 billion (USD6.6 billion) into the Asir region of the country as part of plans to make the province a global tourism hub.

    Saudi Arabia’s Crown Prince Mohammed bin Salman on Sept. 28 initiated a SR50 billion tourism strategy for Asir that plans to attract over 10 million visitors from inside and outside the Kingdom by 2030.

    According to Strategy Director Sultan Zomaia, SR10.6 billion will be received from the government and SR16 billion from the private sector, of the rest of the funds.

    Zomaia further declared that the Kingdom has allocated SR2.5 billion to spend on Asir development projects during the first three years of the development strategy.

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