Saudi tourism body considers funds for 6 tourism projects worth SR71 million

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The funds will go toward developing a range of plans across the hospitality sector, including hotels, conference centers, infrastructure and tourist resorts. (SPA)
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The funds will go toward developing a range of plans across the hospitality sector, including hotels, conference centers, infrastructure and tourist resorts. (SPA)
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The funds will go toward developing a range of plans across the hospitality sector, including hotels, conference centers, infrastructure and tourist resorts. (SPA)
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The funds will go toward developing a range of plans across the hospitality sector, including hotels, conference centers, infrastructure and tourist resorts. (SPA)
Updated 17 April 2019
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Saudi tourism body considers funds for 6 tourism projects worth SR71 million

  • Saudi Arabia’s vision on the tourism sector is based on its basic values and culture in the first place, followed by the economic importance and regional and international weight it enjoys

RIYADH: The Saudi Commission of Tourism and National Heritage (SCTH) has announced plans to fund 33 new tourism projects across the Kingdom, as part of a lending initiative to aid the sector in underdeveloped Saudi regions.
Abdul Majid bin Abdul Mohsen Al-Nasser, the SCTH’s director general of tourism investment, said that the initiative, in partnership with the Ministry of Finance, approved proposals for 33 projects at a cost of more than SR1,100 billion ($294 million).
Al-Nasser added that a joint committee formed by the SCTH and the ministry was also studying funding for six other projects worth an additional SR71 million.
The funds will go toward developing a range of plans across the hospitality sector, including hotels, conference centers, infrastructure and tourist resorts. The hope is that, as well as highlighting the many attractions on offer in less-heralded parts of the country, the initiative will also lead to an upswing in job creation.
Saudi Arabia’s vision on the tourism sector is based on its basic values and culture in the first place, followed by the economic importance and regional and international weight it enjoys, as well as its value-based interaction with other communities.
Earlier this month, SCTH undertook registration of 1,127 artifacts and relics that it successfully managed to restore from America, in coordination with the Saudi Foreign Ministry. Some of the items recovered date back to prehistoric times.
The director-general of archiving and protecting antiquities at SCTH, Naif Al-Qannour, said the commission had stepped up its efforts to recover national treasures from inside and outside the Kingdom.
Al-Qannour added that many of the objects had been voluntarily handed over to the Kingdom by relatives of US citizens who worked in Saudi Arabia during the 1960s.


Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019
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Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.