Saudi Tourism Awaits Results of Legislative Environment Enhancements

One of the historical sites near AlUla, Saudi Arabia (AFP)
One of the historical sites near AlUla, Saudi Arabia (AFP)
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Saudi Tourism Awaits Results of Legislative Environment Enhancements

One of the historical sites near AlUla, Saudi Arabia (AFP)
One of the historical sites near AlUla, Saudi Arabia (AFP)

The tourism sector in Saudi Arabia looks forward to reaping the benefits of the newly established legislative framework for the sector.

Princess Haifa bint Mohammed Al Saud, the Deputy Tourism Minister, has revealed that legislative advancements will directly impact attracting substantial investments to the tourism sector in the Kingdom, both from within Saudi Arabia and abroad.

She also noted that the sector has witnessed significant growth in recent years.

The Kingdom’s Tourism Ministry had launched a list of experimental activities on Monday to enable innovation and promote the growth of this sector, according to Princess Haifa.

This is a continuation of efforts to improve the legislative environment, which is a crucial factor in the development of the tourism sector and achieving the ambitious goals outlined in Saudi Arabia’s National Tourism Strategy introduced in 2019.

During the opening session of the second day of the Saudi Law Conference, Princess Haifa explained that the Ministry of Tourism, through its proactive plans, ensured the development of the legislative framework for the tourism sector.

The ministry has adopted a tourism system that aligns with global best practices in tourism legislation.

This system, implemented worldwide, has been accompanied by the creation of executive regulations.

These legislative changes have significantly contributed to the remarkable growth in the tourism sector in recent years.

As a result, the Kingdom has advanced in the international tourism revenue index and achieved prominent positions in the growth rate of international tourists.

Princess Haifa emphasized that the fundamental cornerstone on which the system is built is the protection of the rights of tourists, investors, and industry workers.

The deputy minister also highlighted the importance of fostering partnerships with legal stakeholders and professionals.

She noted that the ministry, through the tourism system, aims to empower itself with the necessary authority and tools to create a competitive, fair, and attractive investment environment.



Saudi Arabia to Sell 0.64% Aramco Stake

Saudi Arabia is offering 1.545 billion Aramco shares. Reuters
Saudi Arabia is offering 1.545 billion Aramco shares. Reuters
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Saudi Arabia to Sell 0.64% Aramco Stake

Saudi Arabia is offering 1.545 billion Aramco shares. Reuters
Saudi Arabia is offering 1.545 billion Aramco shares. Reuters

Saudi Arabia is selling a 0.64% stake in oil giant Aramco, a statement said on Thursday.

Saudi Arabia is offering 1.545 billion Aramco shares and the offering period will commence on June 2.

The price range is expected to be between SAR 26.70 and SAR 29.00 per share.