Aqair Project Will Consolidate Tourism-related Investments, Enhance Diversification of the National Economy – The Minister Says

10 Sep 2013
​ In the occasion of Inaugurating the Project, Today, in Ahsa
 Minister of Commerce and Industry Dr. TAWFIG FAWZAN ALRABIAH pointed out that the project at Al-Ahsa coastal city Al-Aqair, will be of a significant addition to the Saudi economy, as it will make a quantum leap in the Saudi tourism-related sector, through widely opening the domain for industrial as well as commercial investments, support small and medium size entrepreneurs, to contribute in building a solid and diversified economy, calling on businessmen to invest in the project to take its advantages.
On the occasion of the inauguration of the project, today in Aqair coastal city, he announced that it will attract a great number of investment opportunities, locally, regionally, gulf-wide and internationally.  
Furthermore, it will provide entrepreneurs with more opportunities, creates thousands of new jobs for the nationals, hence became a contribution in diversifying sources of the national income and a powerful tributary to the sustainable growth of the Saudi economy.
On the other hand, the minister hailed the great efforts exerted by the Saudi Tourism and Antiquities Commission to make Al-Aqair project a success, supporting and investing in the local tourism sector, emphasizing that MCI will spare no effort, in order to launch this project and thus, providing the national economy with a new powerful impetus, to realize the aspirations of the leadership and promote the economic clout of the Kingdom.
Al-Aqair project will furnish the appropriate climate for investment, produce good returns for investors, will be a tourism as well as economic main feature, on inauguration, will greatly serve the regional development, a matter that will positively reflected on its people, the minister stated. 
Hopefully, the minister added, such project will be as a pilot project to construct similar tourist cities in other areas and regions, to serve the whole Kingdom, considering the environment as appropriate to invest in the sector.
Noteworthy, the project consists of peaches, archaeological sites, urbane heritages' sites, tourist utilities, hotelier, houses and housing units, commercial centers comprising offices and retailers' shops, recreational centers and programs, sports, educational, health care amenities, parks and related infrastructures.
According to the latest statistics, the contributions of the travel and tourism sector in the GDP of the Kingdom stood at SR 116.2 billion, i.e. 5.4 per cent of the GDP, in 2011, however it rose to about SR 120.5 billion, in 2012, maintaining the same percentage.
Aqair, would be a strong push to the growth of the national economy, through wooing local and world investments, alike.
Aqair as the facts indicate is situated at the crossroads of other Gulf countries, have railways services and maritime harbor, all would help in making it so attractive to various and different national and gulf investors and tourists.
Last Modified 26 Dec 2018