In a bid to back and further grow the travel industry of Saudi Arabia, the Tourism Development Fund has recently signed a cooperation agreement with Mukatafa Co., a Riyadh-based private consultancy firm.
The contract is targeted to improve partnership between the two parties, highlighting exchange of information and accessible expertise within the field, the Saudi Press Agency reported the same.
This thoughtfulness branches out from the commitment of the Kingdom to firming up partnerships and capitalizing on the benefits between the private and public sectors, with an aim on the prosperity of the nation.
The deal additionally aligns with the National Tourism Strategy of the Kingdom, which by 2030 is keen on drawing 100 million visitors while rising the contribution of the travel sector to gross domestic product to over 10 percent.
Both parties will cooperate to progress with a cohesive framework to help establishments nominated under the agreement and to profit from funding and investment programs to develop tourism in Saudi Arabia.
This will come in accordance with exclusive terms and conditions agreed by the parties, permitting these governments to increase and withstand the scope of their commercial activities. This will definitely affect the financial and social levels of the Kingdom.
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