Tourism Investment Support

  • Ministry of Tourism has worked in cooperation with a number of partners in the private and public sectors to establish an integrated system for different ways of funding.
  • It has signed a number of cooperation agreements, sponsorship and financing with many authorities, the most important of them being the, signing of a memorandum of understanding with the Social Development Bank (SDB) to finance tourism projects according to three funding routes: Micro-projects route, Emerging projects route, and Excellence projects route. In addition, Ministry of Tourism is formulating a new route for mega projects, the investment of which exceeding SR 8 million, to be financed through the Industrial Development Fund, Kafala Program, the Agricultural Development Fund and the Centennial Fund (TCF).
  • Ministry of Tourism​ efforts fall under the partnership approach adopted in its relationship with various authorities in both the public and private sectors in order to achieve the objectives of the General Strategy of National Tourism Development, as the tourism is considered a productive sector aimed to diversify the national economy, as well as provide job opportunities for citizens, encourage their participation in the tourism sector, achieve balanced regional development, develop small and medium-size enterprises, and stimulate private-sector investment.
  • In this context, Ministry of Tourism has signed a minute to activate the resolutions of the Council of Ministers No. (209) with itself and several government Funds. The agreement includes the proposed formulas for programs in the areas of tourism, antiquities and urban heritage, as Ministry of Tourism believes in the importance of funding and lending programs. For instance, the lending and funding program for:
    • Accommodation projects (hotels, resorts, furnished apartments).
    • Travel and tourism agencies, tourist guides, tour operators and tourism events and exhibitions operators.
    • Heritage and antiquities projects (heritage buildings, museums, handicraft and commemorative gifts centers). 
    • Entertainment and sport projects (amusement cities, equestrian and diving centers, skating rinks, and cruise boats).
    • Agro tourism and eco-tourism projects (environmental inns, rural rest houses, resorts and desert camps). 
    • Popular restaurants and cafes in tourism and heritage sites that need financing. 
    • Rehabilitation and development of roadside rest houses.
    • Training and educational projects in addition to tourism and crafts institutes.