Arab News, Tuesday, Nov 23, 2021 | Rabi Al-Aakhir 18, 1443
Saudi tourism fund invests $533m on various projects in over a year
Saudi Arabia:
Saudi Arabia's Tourism Development Fund said on Monday it had deployed SR2
billion ($533 million) on tourism projects worth a total of around SR6 billion
since its establishment last year until the end of September this year.
The remaining SR4 billion for the projects have
come from the private sector, the fund said in a statement.
Founded in June 2020 with an initial $4 billion
investment, the fund is part of Saudi plans to diversify the economy away from
the oil sector.
Qusay Al-Fakhry, the fund’s CEO, revealed these
figures during a briefing given to Saudi Tourism Minister Ahmed Al-Khatib, who
is also chairman of the fund’s board of directors.
Al-Khatib visited the new headquarters of the fund
with several other board members.