The Saudi Red Sea Authority and NEOM Company signed a memorandum of understanding (MoU) to cooperate on legislation, innovation in marine tourism and joint initiatives.
The Saudi Red Sea Authority was represented at the signing of the MoU by its CEO, Mohammed Al Nasser, while NEOM was represented by the company’s CEO, Eng. Nazmi Al-Nasr.
The signing of the MoU comes as an extension of the Authority’s accelerated steps towards carrying out its roles and tasks. It also support and assistance to small and medium enterprises, including administrative and advisory support.
The MoU seeks integration with public and private sector authorities to fulfill Saudi Vision 2030 goals for coastal tourism. It outlines cooperation areas, such as supporting investor opportunities and implementing joint initiatives.
It is noteworthy that this memorandum concluded by the Saudi Red Sea Authority comes as part of its efforts to expand its strategic partnerships. It’s also to achieve the authority’s goal of regulating maritime and tourist navigation activities.
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