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23-06-20
Saudi Arabia assigns 4 billion United States dollar for Tourism growth
(MENAFN) Saudi Arabia proclaimed that plans to start a tourism growth fund with an initial 4 billion United States dollar asset, as part of its diagrams to expand its economic reserves.
The Ministry of Tourism subjected in a statement saying that the fund will start equity and debit asset vehicles to expand the tourism sector in cooperation with private and asset banks.
Ahmed al-Khateeb Tourism Minister stated that the fund is a testament to saver and private sector self-assurance in the long-term viewpoint for tourism in Saudi Arabia, particularly since it comes at a time as tourism faces unparalleled worldwide confronts in light of the Corornavirus pandemic.
Saudi Arabia believes tourism as one of the major supports of the economic improvements aspired at plummeting the Kingdom's reliance on oil income.
MENAFN2306202000450000ID1100373061
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