RIYADH: The Tourism Development Fund has signed a cooperation agreement with the Royal Commission for Jubail and Yanbu aiming to develop a number of projects in the city of Jazan.
According to the Saudi Press Agency, the goal is to strengthen and promote the tourism sector by supporting projects related to hospitality, tourist accommodation, and more.
The TDF will evaluate investment requests and finance tourism projects in the Jazan region, adhering to its specified conditions, according to the agreement. It will also provide financial programs and products, facilitating support for investors.
Simultaneously, the Royal Commission for Jubail and Yanbu will participate in projects through either cash or in-kind investments. The commission will also offer logistical support and streamline procedures for investors, creating a conducive investment environment.
CEO of the TDF Qusai Al-Fakhri emphasized the extension of the agreement to include Jazan, highlighting the fund’s commitment to supporting various promising tourist destinations and encouraging investment in them.
He stated: “The signing of the agreement is in line with the fund’s commitment to supporting diverse tourist destinations and projects, enriching the tourism experience and encouraging private sector engagement in tourism investments that have competitive advantages contributing to enriching tourist experiences.”
CEO of Jazan City for Primary and Downstream Industries Hussain bin Yahya Fadhli emphasized the importance of providing an integrated system of services and developmental projects to propel Jazan towards a developmental renaissance that supports tourism investment.
He said: “We continuously work towards the renaissance of this city, paving the way for the establishment of a new tourism reality in the region, given its natural assets that enhance maritime and mountain tourism.”
Fadhli added: “Through this agreement with the TDF, we look forward to contributing to building a promising tourism future in the Jazan region, aligning with the strategies of the commission that contribute to the crucible of our country’s developmental projects. This is in light of the significant transformations that have touched various aspects of life according to the vision of the Kingdom 2030.”
The TDF is dedicated to stimulating tourism investments in targeted destinations, offering financial and non-financial programs, solutions, and easy loans.
The fund aims to empower investors and businesses related to the tourism sector, encouraging private sector contributions to building a thriving future for tourism in line with the National Tourism Strategy and Vision 2030 of the Kingdom.
