"Asfar": A Saudi Company for Tourism Investment

The Saudi Public Investment Fund announced today, Thursday, the establishment of (Asfar), a tourism investment company that will focus on investing in projects within the tourism sector. Saudi Arabia aims to attract 100 million local and foreign tourists annually by 2030, as part of a comprehensive economic reform to reduce reliance on oil. The fund stated that "Asfar" will provide opportunities for the private sector to engage in investment in the Kingdom's tourism sector, adding that it will help support local suppliers, contractors, and small to medium-sized enterprises.