His Royal Highness Prince Sultan bin Salman bin Abdulaziz, Chairman of the General Authority for Tourism and Antiquities, chaired the thirty-eighth meeting of the Authority's Board of Directors, where he praised the appreciation and attention that the tourism and national heritage sectors receive from the Custodian of the Two Holy Mosques and Prime Minister King Salman bin Abdulaziz - may God protect him - to enable them to fulfill their roles.
The Council reviewed a number of tourism projects and the tourism regulation.
Funding tourism projects His Highness said that the Council reviewed at its meeting the regulations governing the lending program for hotel and tourism projects through the decision of the esteemed Council of Ministers, which is considered for us a historic decision, noting that new elements were added in the financing, as the financing value became up to 100 million and not 50 million riyals as before, and the financing became focused on areas that need financing, such as cities with less than a million people and not cities that are financially saturated with projects. <span style="font-weight: bold
Tourism Project Regulations The Council praised the great agreement between the Authority and the Ministry of Finance in announcing the regulations governing the loan program for hotel and tourism projects, which was issued by Cabinet Decision No. (172) dated 13-4-1436H. It stipulates that the program shall be approved in accordance with regulations set by the Ministry of Finance and the General Authority for Tourism and Antiquities to expand the scope and areas of lending covered by the program.
Project Financing The regulation included the financing of hotel and tourism projects listed in the Cabinet decision, as follows: Hotel and tourist accommodation projects and their ancillary elements such as villas, hotel suites, halls, conference centers, resorts, tourist lodges, heritage hotels, recreational cities and new tourist destinations, which are established in less developed cities or governorates with tourist attractions with a population of less than one million according to the latest statistics of the Department of Statistics and Information, or in new tourist destinations. New tourist destinations.
Increased lending The regulation stipulated increasing the upper limit of lending from 50 million riyals to 100 million riyals. The Council stressed the importance of this program in stimulating the private sector to inject more quality investments in the tourism and hotel fields, which contributes to increasing the services offered to meet the large demand for domestic tourism and ensures the diversity of tourism services offered in the Kingdom. This contributes to achieving the highest national goals of the Saudi Commission for Tourism and Antiquities, including achieving balanced and sustainable tourism development, raising the levels of tourism services and making their prices affordable for citizens in balance with the service provided. .
"Live Saudi" The Council expressed its pride in the patronage of the Custodian of the Two Holy Mosques - may Allah protect him - to launch the Live Saudi Arabia program. announced by His Highness the President of the Authority during the opening ceremony of the first phase of the Historic Diriyah Development Project, a national program launched by the Authority in partnership with the Ministry of Education, the General Presidency of Youth Welfare, the Ministry of Culture and Information, and the King Abdulaziz Administration, sponsored by Saudi Aramco, Saudi Airlines, Saudi Telecom Company, Nas Airline, and a number of national companies, in addition to the Custodian of the Two Holy Mosques - may Allah protect him - to launch the program. Enabling the Tourism Sector The Council stressed the importance of intensifying efforts to complete the tourism and national cultural heritage project, activating the Cabinet decision issued last year to support tourism financially, which includes the state contributing to the establishment of tourism development companies in the regions, expediting the establishment of the Tourism Development Holding Company, and the state providing infrastructure for tourist sites across the Kingdom.
He pointed out the importance of empowering the Authority and the tourism sector financially and administratively to promote the projects of tourist destinations, cities and supporting services in the Kingdom's regions to make them a preferred choice for citizens.
System of Antiquities and Museums The Council reviewed the regulations of the Antiquities, Museums and Urban Heritage System and the Tourism System, which were approved by the Supreme Council on 9-1-1436 AH, and authorized the Chairman of the Council to adopt them within a month after accommodating members' comments raised at the meeting.
