A memorandum of understanding (MoU) has been struck by NEOM and the Saudi Red Sea Authority (SRSA) to work together on developing laws, rules, and technologies related to marine tourism.
Through the agreement, Saudi Arabia’s current and future Red Sea coastal locations will benefit from the sharing of expertise aimed at delivering innovation and enhancing the guest experience.
NEOM is a Red Sea location located in northwest Saudi Arabia that is being developed as a living laboratory from the ground up. Hyperconnected, cognitive cities, ports, enterprise zones, research facilities, arenas for sports and entertainment, and tourism attractions will all be part of it.
The Memorandum of Understanding (MoU) was signed by SRSA to demonstrate its commitment to fulfilling its mandate, which includes supporting small and medium-sized businesses with administrative, technical, and advisory support in addition to promoting and luring investment in coastal tourism activities.
The agreement outlines a number of areas of cooperation, including planning and carrying out additional cooperative initiatives as decided upon by the two sides, as well as promoting opportunities accessible to investors in the fields of coastal tourism and aquatic activities.
