The Saudi Ministry of Investment signed memorandums of understanding (MoU) with Kidana, Lifestyle and Josour Al-Khaleej for investments in the hospitality and tourism sectors.
The agreements also envisage development and investments in sectors such as catering services, commercial and entertainment activities, and cooperation to employ housing and commercial complexes
The MoUs were signed at the ongoing Hajj and Umrah Expo Conference, organised by the Ministry of Hajj and Umrah.
The four-day Expo will end on Thursday.
The agreements with the private sector companies are part of the Investment Ministry’s efforts to attract investments in various sectors.
Saudi Arabia has of late initiated several measures to promote private investments in the country in its bid to diversify its economy and enhance the competitiveness of the Kingdom globally.
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