Minister of Municipal and Rural Affairs Majid Al-Hogail
Saudi Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail approved the establishment of Aseer Municipality Investment Co., which will be owned by Aseer Municipality.
He also approved the formation of the company’s board of directors, headed by the region’s Secretary Walid Al-Hamidi, according to the Saudi Press Agency.
The company will be wholly owned by Aseer Municipality and will operate as an investment arm. It will also be a qualitative addition to the business sector in the region to promote investment activity in the municipal sector in Aseer region, Al-Hogail added.
The company will work on three axes: the first is the management of municipal investment contracts in Aseer Municipality and its development; the second is the management of municipal service contracts, and the third is the establishment of tourism development projects with the participation of the private sector, said the minister.
The minister also pointed out that the establishment stages took more than a year, noting that a meeting of the founding assembly will be held in the coming days, in the presence of a representative from the Ministry of Commerce, and the establishment of the company will be announced.
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