In a landmark move aimed at further boosting the burgeoning tourism and hospitality sector, Saudi Arabia has decided to waive the municipal service fees pertaining to issuing licenses for commercial activity of hotels, hotel apartments and residential resorts.
The decision comes within the context of the ongoing efforts to develop and facilitate the investor journey and remove the barriers and obstacles that hinder investors from benefiting from the increasing investment opportunities in the tourism sector.
The new government decision is the result of one of the initiatives of the Investment Enablers Program in the tourism sector launched by the Ministry of Tourism in March this year, the Saudi Press Agency reported. The program aims to facilitate investment in the sector and reduce operating costs to increase the competitiveness of the sector by applying the highest international standards to make the Kingdom a leading destination for investment in the tourism sector.
