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Saudi Arabia: Additional Benefits for Major Investors, CEOs of Local and Int’l Companies

Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)
Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)
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Saudi Arabia: Additional Benefits for Major Investors, CEOs of Local and Int’l Companies

Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)
Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)

Saudi Arabia’s Ministry of Investment has signed a memorandum of understanding (MoU) with national carrier Saudia Group to enhance services and support for investors.

This agreement aims to promote the Kingdom as an investment destination and facilitate a conducive environment for business growth.

The MoU was signed by Khaled Tash, Saudia Group’s Chief Marketing Officer, and Mohammed Aba Hussain, Deputy of Integrated Investors Services at the Ministry of Investment.

According to the MoU, Saudia will provide the ministry’s investors with a wide range of exclusive benefits, logistics and shipping services through Saudia Cargo, as well as private aviation and personal assistance (concierge) services provided through Saudia Private Aviation Company.

Both parties will foster the bilateral cooperation in organizing the ministry’s events at the local and international levels.

“This strategic partnership between Saudia Group and the Ministry of Investment represents a significant leap forward. It promotes our position as a comprehensive aviation system dedicated to advancing and achieving the ambitious objectives of Vision 2030,” said Khaled Tash, Saudia Group’s Chief Marketing Officer.

He added: “By collaborating closely, we aim to optimize travel logistics for key national projects, facilitating seamless mobility both to and within the Kingdom while offering exclusive travel benefits.”

The deputy of Integrated Investors Services at the Ministry of Investment stressed that the signing of the “strategic partnership with Saudia Group is a significant milestone for the Ministry of Investment. It goes beyond a mere agreement, symbolizing our unwavering commitment to providing exceptional services.”

“We aim to overcome all obstacles for investors and cultivate an ideal environment for their businesses to flourish within the Kingdom. This partnership offers a comprehensive package of benefits to investors, executives, and global companies to streamline their relocation experience,” he said.

In January, Saudi Arabia announced the launch of five new categories of distinguished residencies with the aim of increasing the attraction of exceptional talent, including executives, talents, investors, entrepreneurs, and real estate owners.

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New Legislation Facilitates Investment in Saudi Tourism Sector

Saudi Minister of Tourism Ahmed Al-Khatib (Asharq Al-Awsat)
Saudi Minister of Tourism Ahmed Al-Khatib (Asharq Al-Awsat)
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New Legislation Facilitates Investment in Saudi Tourism Sector

Saudi Minister of Tourism Ahmed Al-Khatib (Asharq Al-Awsat)
Saudi Minister of Tourism Ahmed Al-Khatib (Asharq Al-Awsat)

Saudi Minister of Tourism Ahmed Al-Khatib said, in an interview with Asharq Al-Awsat, that work is underway on new regulations and legislation that will facilitate the investment process in the Kingdom.
Saudi Arabia is witnessing a major transformation in the tourism sector after it enacted and developed a number of regulations and launched mega projects that allowed the country to attract more than 100 million visitors last year, the target initially set for 2030.
During a press conference on Wednesday at the Abu Faraj heritage palaces in Al-Aziza, west of the city of Abha in the southern Aseer region, Al-Khatib revealed the ministry’s moves to provide appropriate long-term funding at a competitive cost in order to encourage investment in the Saudi tourism system.
In his remarks to Asharq Al-Awsat, the minister pointed to the most prominent achievements in the sector, revealing that the Kingdom received 60 million visitors during the first half of 2024, with spending amounting to SAR 143 billion ($38.1 billion), recording about 10 percent growth in the number of tourists and spending.
He added that by the end of the first half of this year, the sector’s contribution to the gross domestic product had reached 5 percent, and was moving steadily toward achieving 10 percent, which is equivalent to SAR 600-700 billion of tourism income.
Moreover, Al-Khatib also spoke about the launch of the Bachelor of International Hospitality Management program, a partnership between the Ministry of Tourism, King Khalid University, and Hong Kong Polytechnic University.
He noted that a memorandum of understanding was signed between the Ministry of Tourism and the Colleges of Excellence Company, with the aim of developing human capabilities and expanding international specialized technical colleges and strategic partnership institutes in the field of tourism and hospitality.
Al-Khateeb said 10,000 training opportunities both inside and outside the Kingdom would be allocated to those working in the Aseer region’s tourism sector.
The National Tourism Strategy aims to reach over 150 million local and international tourists by 2030. In 2023, it reached 109 million.
The minister added: “The Tourism Development Fund plays an important role in providing financing, allocating SAR 7.4 billion to enable over 100 tourism projects around the Kingdom with a value exceeding SAR 35 billion.”
He pointed out that the fund financed 10 major projects in the Aseer region, ranging from international hotels to multi-use projects with a value exceeding one billion riyals. International hotel brands included: InterContinental Residence in Abha, DoubleTree in Khamis Mushait Governorate, and Khayal Walk Boulevard.