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
U.N. Security Council members will begin talks on Tuesday on a U.S.- and Bahrain‑backed draft resolution that could lead to sanctions against Iran, and potentially authorise force, if Tehran fails to halt attacks and threats to commercial shipping in the Strait of Hormuz, three Western diplomats said.
President Volodymyr Zelenskiy pitched a drone deal to Bahrain during a visit to the country on Tuesday, advertising Ukraine's battle-tested security expertise.
U.S. Defense Secretary Pete Hegseth said on Tuesday that the ceasefire with Iran was not over, even as the U.S. and Iran exchanged fire in the Gulf as they wrestled for control of the Strait of Hormuz.
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