Saudi Arabia to showcase key projects in Arabian Travel Market

The Red Sea Project will be an exquisite sanctuary offering indulgent experiences, seamlessly customized to the unique needs of each visitor. (Supplied)
Updated 01 May 2019
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Saudi Arabia to showcase key projects in Arabian Travel Market

  • The market includes two major activities for the Saudi exhibitors, the Mega Tourism Projects and the Saudi Seasons 2019 initiative

RIYADH: More than 60 Saudi public and private institutions related to the tourism sector will exhibit at the 26th session of the Arabian Travel Market to be opened in Dubai, UAE on April 28 at the World Trade Center.

The market includes two major activities for the Saudi exhibitors, the Giga Tourism Projects and the Saudi Seasons 2019 initiative, the Saudi Press Agency reported.

The Giga tourism projects to be showcased at the event are those announced by the Saudi government recently including NEOM, a smart mega-city, Amaala, an uber-luxury destination on the northwestern coast of Saudi Arabia, he Red Sea Project, the world’s most ambitious luxury tourism development established across an archipelago of more than 90 pristine islands, miles of sweeping desert and dramatic landscapes that include volcanoes, and canyons.

Saudi Season 2019 is an initiative to use the expanse of lands that vary between plains, mountains, deserts and the sea and add to Saudi Arabia a climatic diversity with 11 tourism seasons covering the Kingdoms’ regions with all their natural and heritage aspects, as well as providing investment opportunities.

The Saudi participation to be organized by the Saudi Commission for Tourism and National Heritage (SCTH) aims at developing the tourism sector with the support of the Kingdom’s leadership and its comprehensive vision to enhance this important industry.

According to SCTH, Saudi participation also includes benefits from advanced international expertise in the tourist sector and applying the best practices that meet and suit the standards of the Saudi market.

The annual Arabian Travel Market exhibition is considered one of the most important specialized gatherings in the tourism sector, attracting 90 countries from across the world and more than 40,000 visitors.
 


High-level investment forum aims to further boost business between Saudi Arabia and Japan

Updated 18 June 2019
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High-level investment forum aims to further boost business between Saudi Arabia and Japan

  • Japan is one of Saudi Arabia’s most important economic partners

TOKYO: More than 300 government, investment and industry leaders on Monday took part in a high-level gathering aimed at further boosting business opportunities between Saudi Arabia and Japan.

The Saudi Arabian General Investment Authority (SAGIA) welcomed key figures from the public and private sectors to the Saudi-Japan Vision 2030 Business Forum, held in Tokyo.

Hosted in partnership with the Japan External Trade Organization (JETRO), the conference focused on the creation of investment opportunities in strategic sectors of the Kingdom. Delegates also discussed key reforms currently underway to enable easier market access for foreign companies.

Speaking at the event, Saudi Economy and Planning Minister Mohammed Al-Tuwaijri, said: “Today’s forum is a testimony to the success of the strategic direction set by the Saudi-Japanese Vision 2030 two years ago, which seeks to drive private-sector involvement, both by partnering with public-sector entities.”

SAGIA Gov. Ibrahim Al-Omar said: “At SAGIA, we have been working on creating a more attractive and favorable business environment in Saudi Arabia, which is making it easier for foreign companies to access opportunities in the Kingdom.”

Japan is one of Saudi Arabia’s most important economic partners. It is the Kingdom’s second-largest source of foreign capital and third-biggest trading partner, with total trade exceeding $39 billion.

JETRO president, Yasushi Akahoshi, said: “Saudi-Japan Vision 2030 has made great progress since it was first announced. Under this strategic initiative, the number of cooperative projects between our two countries has nearly doubled, from 31 to 61, and represents a diverse range of sectors and stakeholders.”

Since 2016, the Saudi government has delivered 45 percent of more than 500 planned reforms, including the introduction of 100 percent foreign ownership rights, enhancing legal infrastructure and offering greater protection for shareholders.

As a result, the Kingdom has climbed international competitiveness and ease-of-doing-business rankings, with foreign direct investment inflows increasing by 127 percent in 2018 and the number of new companies entering Saudi Arabia rising by 70 percent on a year-on-year basis in the first quarter of 2019.