Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to develop legislation, regulations, and technology in marine tourism.
The partnership will facilitate the sharing of expertise and enable the implementation and activation of joint initiatives, with the aim of enhancing research, delivering innovation, and improving the visitor experience for tourists in Saudi Arabia’s existing, emerging, and future Red Sea coastal destinations.
Neom is a new urban area being built by Saudi Arabia in Tabuk. It will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations.
Further, the signing of the MoU reflects SRSA’s efforts and commitment to carry out its role in encouraging and attracting investment in coastal tourism activities, as well as giving assistance to small and medium enterprises, including the provision of administrative, technical, and advisory support.
Through this partnership, SRSA aims to achieve integration with relevant entities from the public, private, and third sectors to achieve the goals of Saudi Vision 2030 in activating the role of coastal tourism as one of the promising and valuable sectors of the national economy.
The agreement specified several areas of cooperation, such as supporting opportunities available to investors in the field of coastal tourism and water activities, as well as planning and implementing other joint initiatives as agreed upon by the two parties.
According to the statement, the MoU forms part of SRSA’s efforts to expand its strategic partnerships and explore best practices to regulate navigational and marine tourism activities, all while ensuring sustainability and care for the environment.
