SEOUL, Sept. 05 (AJP) - Saudi Arabia has announced the immediate cancellation of fees for issuing commercial licenses for hotels, hotel apartments, and residential resorts. This decision is part of the Tourism Investment Enabler Program, launched in March to position the kingdom as a global leader in tourism, aligning with the goals of Vision 2030.
Tourism Minister Ahmed Al-Khateeb expressed gratitude to King Salman and Crown Prince Mohammed bin Salman for their support, noting that this move is a significant step toward creating a more attractive investment environment in the tourism sector. He emphasized that this decision reflects the leadership's commitment to enhancing the sector’s competitiveness and providing opportunities for investors.
Al-Khateeb highlighted the close collaboration between the Ministries of Municipalities, Housing, and Tourism in making this initiative possible. He also mentioned that the decision is part of ongoing efforts to simplify the investor process, remove obstacles, and encourage investment in the growing tourism industry.
The minister added that the move will help develop infrastructure in the tourism sector, particularly in hospitality, and improve tourist destinations across the kingdom.
According to SPA, this initiative will drive more investment into the tourism sector and increase its contribution to Saudi Arabia's GDP. Vision 2030 aims to transform the country’s economy by reducing its reliance on oil exports, with over $800 billion invested in economic diversification projects.
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