Saudi Arabia’s Tourism Development Fund (TDF) has signed an agreement with the local representative of Endeavor International, the Saudi Endeavor Network (SEN), in order to increase opportunities for entrepreneurs in the tourism sector.
The alliance will enable local and international entrepreneurs to benefit from support programs, financing and investment solutions, as well as services provided by both parties.
The memorandum of understanding (MoU) will contribute to promoting the development of entrepreneurs within the tourism sector.
According to the statement, “The two parties will build on their existing integration for their mutual benefit, in support of local and international entrepreneurs in the tourism sector. It will also allow the targeted entrepreneurs to get to know and meet with investors in the Kingdom, to create new investment opportunities in the tourism sector commensurate with the nature of the entrepreneurs’ businesses.”
Further, the MoU aims to enrich tourism experiences in the Kingdom, positively reflect the prosperity of the tourism sector, and create high-quality projects for tourism destinations by increasing opportunities for entrepreneurs.
“TDF affirms its keenness, through this MoU, to support and empower entrepreneurs, and to offer the best global experiences in entrepreneurship, as well as to improve the tourist experience by creating high-quality projects. TDF aims to link the private and public sectors to jointly support tourism development in the Kingdom, developing Saudi Arabia as a global tourist destination, in line with both the objectives of Saudi Vision 2030 and the National Tourism Strategy.”
Ms. Latifa Al-Waalan, CEO of SEN said that, “The Saudi Endeavor Network aims to support entrepreneurs, providing technology and innovation to build successful projects that positively affect the economy.”
“Cooperation with TDF is an important opportunity to enhance and support promising entrepreneurs in this sector, especially since developing tourism is one of the keys to success for the Kingdom’s Vision 2030,” Ms. Al-Waalan added.