NEOM, Saudi Arabia — Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate on developing legislation, regulations, and technology in marine tourism.
The partnership will promote the sharing of expertise and enable the implementation and activation of joint initiatives. The aim is to enhance research, deliver innovation, and improve the visitor experience for tourists in Saudi Arabia’s existing, emerging, and future Red Sea coastal destinations.
The MoU, signed by SRSA Acting CEO Mohammed Al-Nasser and NEOM CEO Nadhmi Al-Nasr, reflects SRSA’s commitment to encouraging and attracting investment in coastal tourism activities. It also assists small and medium enterprises, including administrative, technical, and advisory support.
Through this partnership, SRSA aims to integrate with relevant entities from the public, private, and third sectors to achieve the goals of Saudi Vision 2030, which is to activate 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 coastal tourism and water activities, as well as planning and implementing other joint initiatives as agreed upon by the two parties.
The MoU reflects 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.
NEOM, Saudi Red Sea Authority to partner in marine tourism
- The partnership will promote the sharing of expertise and enable the implementation and activation of joint initiatives.
- The agreement specified several areas of cooperation, such as supporting opportunities available to investors in coastal tourism and water activities.
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