Saudi Arabia decided on Wednesday to cancel fees for issuing commercial activity licenses for hotels, hotel apartments and residential resorts in the kingdom, state news agency SPA reported.
The Ritz-Carlton, Jeddah © Mena Today
Saudi Arabia decided on Wednesday to cancel fees for issuing commercial activity licenses for hotels, hotel apartments and residential resorts in the kingdom, state news agency SPA reported.
The decision, effective Sept. 4, is part of the Tourism Investment Enabler Program that Saudi Arabia launched in March, aimed at making the kingdom a global tourism powerhouse.
"This decision comes in line with the goals of the Kingdom's Vision 2030 to make Saudi one of the most prominent tourist destinations in the world", SPA said.
SPA added that the initiative would encourage investors to put more money into the tourism sector, which would increase the industry's contribution to gross domestic product.
Saudi's Vision 2030 plans to modernise the Gulf Arab state and reduce its dependence on oil export revenues with over $800 billion invested to diversify the economy.
By Jana Choukeir
Saudi budget airline flyadeal is putting the finishing touches to a deal to order 10 Airbus A330neo jets in its first full-blown expansion into wide-body planes, as the kingdom pursues a surge of spending on aviation, industry sources said on Tuesday.
Negotiators were meeting in Qatar on Tuesday hoping to finalise details of a plan to end the war in Gaza, after U.S. President Joe Biden indicated a ceasefire and hostage release deal was imminent.
Talks held in Geneva between Iran, Britain, France and Germany will see dialogue continue regarding Tehran's disputed nuclear programme, Iran's official news agency reported on Tuesday.
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