عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Government Enables Private Sector to Engage In Major State Projects

Buildings are seen in Riyadh, Saudi Arabia February 16, 2021. REUTERS/Ahmed Yosri
Buildings are seen in Riyadh, Saudi Arabia February 16, 2021. REUTERS/Ahmed Yosri
TT
TT

Saudi Government Enables Private Sector to Engage In Major State Projects

Buildings are seen in Riyadh, Saudi Arabia February 16, 2021. REUTERS/Ahmed Yosri
Buildings are seen in Riyadh, Saudi Arabia February 16, 2021. REUTERS/Ahmed Yosri

The Saudi government is seeking to enable the private sector to contribute to state projects by designing a strategy that involves the Federation of Saudi Chambers and public agencies to stimulate and develop the economic sectors.

According to a recent report issued by the Federation of Saudi Chambers, coordination with government agencies contributed to improving the business environment and overcoming the challenges facing the sector.

The report revealed key government projects that supported the private sector, with the contribution of the Federation of Saudi Chambers, including raising the percentage of local content in mega projects, issuing the mining investment system, stimulating national exports according to incentive packages and government facilities, in addition to contributing to the franchise system and organizing the Saudi Center for Commercial Arbitration.

The Federation of Saudi Chambers is participating as a permanent member of the Business Environment Improvement Committee for the private sector, working to improve the regulatory and legislative environment for business affairs, creating innovative solutions to the obstacles facing the sector, and working to educate companies and institutions about the developments in the national economy.

The Open Ministerial Conferences is an initiative that falls within the national plan to stimulate the private sector, which aims to strengthen the complementary relationship between the public and private sectors and achieve comprehensive development.

The initiative also seeks to support and encourage investment in the various regions of the Kingdom and remove obstacles and challenges, with the aim to achieve Saudi Vision 2030.

Most Viewed

 
 
Business

Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia

A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
TT
TT

Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia

A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)

Egyptian Tourism Minister Sherif Fathy told Asharq Al-Awsat that he and Saudi Tourism Minister Ahmed Al-Khateeb have agreed to collaborate on several tourism initiatives.

These include joint marketing efforts, shared tourism programs, environmental protection measures, and promoting specific types of tourism in the Red Sea.

Fathy recently visited Riyadh, where he met with Al-Khateeb and engaged with Saudi business leaders. They discussed ways to promote tourism between their countries and increase visitor exchanges.

During his visit to the United Nations World Tourism Organization (UNWTO) regional office in Riyadh, Fathy stated that the office’s presence in Saudi Arabia enhances the organization’s work in the region and improves communication with other countries.

He confirmed that they plan to develop and implement the agreed initiatives in the near future.

Fathy highlighted that the Middle East is a key player in global tourism and deserves a dedicated office to support all countries in the region. This effort aims to boost collaboration and promote the Middle East as a top destination for travelers.

Tourism, National Economy: A Path to Sustainable Growth

Samer Al-Kharashi, Director of the UNWTO regional office for the Middle East, stated that the office supports 13 countries in the region, with Egypt being a key member.

He highlighted that the recent visit by Egypt’s Minister of Tourism and Antiquities, who serves as Vice President of the regional committee, creates opportunities for collaboration.

This partnership aims to boost tourism’s role in the national economy, create jobs, and promote sustainable practices that protect the environment.

Speaking to Asharq Al-Awsat, Al-Kharashi emphasized the potential for cooperation with Egypt, which has a rich tourism history and many ancient sites. He noted that the regional office has the expertise to assist member countries.

Al-Kharashi expressed optimism about the discussions, which covered various opportunities for joint projects that would benefit both Egypt and the wider region.

Strengthening Bilateral Relations

Fathy’s visit to the UNWTO regional office aims to enhance bilateral relations, as Cairo actively seeks to develop its tourism sector through international collaboration.

During their meeting, Fathy and Al-Kharashi addressed key issues facing Egypt’s tourism sector, including challenges and growth opportunities. They explored future cooperation, particularly in tourism training, improving services, and increasing investments.

Egypt ranks first in Africa, fifth in the Middle East, and 63rd globally on the Travel and Tourism Development Index.

The UNWTO regional office in Riyadh is the first of its kind outside the organization’s headquarters, dedicated to supporting member states in the Middle East.

The office focuses on promoting tourism education, improving infrastructure, and fostering sustainable tourism while preserving the region’s cultural and environmental heritage.