New regulations underway to facilitate investment in Saudi: Tourism Minister

Ahmed Alkhateeb, Minister of Tourism

Minister of Tourism, Ahmed Alkhateeb, said work is underway on new laws and regulations to facilitate investment in Saudi Arabia.

He added that the private sector always seeks profits and returns. Therefore, tourism projects will be a pull factor for investors, Asharq Al-Awsat newspaper reported.

The ministry seeks to provide appropriate long-term financing at competitive costs to encourage investment in the Saudi tourism sector, Alkhateeb said. He added that the ministry has not yet achieved its aspirations but is on the right track.

Alkhateeb earlier said Saudi Arabia received 60 million tourists in the first half of 2024, whose spending reached about SAR 150 billion, with growth of 10% compared to the same period last year, according to data available with Argaam.