The Red Sea Project is an Optimal Investment of the Country's Resources and a Qualitative Leap of the Kingdom’s Tourism, as declared by H.E. the Minister of Commerce & Investment

02 Aug 2017
​H.E. the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qassabi, affirmed that the Red Sea Project is an ideal investment of the country's resources and a qualitative leap of the Kingdom’s tourism, turning the Kingdom of Saudi Arabia into a world tourist destination.
H. E. Dr. Al Qassabi pointed out that the Red Sea Project reflects the noble directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud for making the Kingdom a successful and pioneering model in the world at all levels, and it does translate the efforts of the Deputy Custodian of the Two Holy Mosques, H.R.H. Prince Mohammed bin Salman bin Abdulaziz, for building a flourishing future for this country, based on an ambitious vision that looks forward to a brighter horizon.
H.E. Dr. Al Qassabi added that the Kingdom of Saudi Arabia has got various investment opportunities and natural resources that would enhance and boost the Kingdom’s economy. H.E. pointed out that the Red Sea Project is the first of its kind, and it will provide great investment opportunities in Saudi Arabia, as well as it will lead to a global partnerships with the world's leading companies in the field of tourism, since tourism is considered a real source of the National Economy, in accordance with the Kingdom’s Vision 2030, which seeks to diversify the income sources, also to improve the life standard, and to introduce the Kingdom’s potentials and resources at all levels.
H.E. the Minister confirmed that the Red Sea Project will enhance the kingdom's position globally, besides attracting the tourists from all over the world under the facilities it would offer, also it will attract the international and domestic investment, together with the relevant expenditure. Consequently, it will increase the Kingdom's GDP. This great project will also pave the way to development gains by creating 35,000 job opportunities once the project is completed, which sets new standards for sustainable development in the Kingdom and makes Saudi Arabia a key destination on the global tourism map.
Last Modified 25 Dec 2018