Saudi Press: HRH Crown Prince Launches SAR 50 billion Strategy to Turn Aseer Region into Global Tourist Destination

Riyadh, Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas.

Al-Eqtisadiah, Okaz and Al-Riyadh newspapers reported in their editorials that the Kingdom of Saudi Arabia is experiencing a comprehensive economic renaissance to build a future focusing on modern economic theories. These modern theories see the need to consider the use of capital in all its types, not just financial capital, but capital goes beyond financial tools, to include intellectual, human, social capitals and the relationship with natural capital.

The Kingdom of Saudi Arabia focuses on the three axes of Vision 2030: a vibrant society, thriving economy and an ambitious nation. In order to achieve these axes, it is a must to employ all types of capitals, the newspapers added.

In this regard, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs, launched the Strategy for the Development of the Aseer Region under the theme of "The Arabian Highland". The strategy's objective is to achieve a comprehensive, unprecedented and sustainable growth for the region through an investment of 50 billion Saudi Riyals to finance major vital projects from different sources and develop tourism attractions on and around the peaks of the Aseer mountains. The strategy seeks to make the Aseer region, by 2030, a world tourist destination catering for more than 10 million visitors from the Kingdom of Saudi Arabia and abroad. It is underpinned by the natural assets of the region. These assets will be utilized through major tourist projects that will highlight the region's high mountain peaks as well as its geographic and natural varieties and reveal the richness of its cultural heritage.

The newspapers concluded that the announcements of the launch of the strategies of Al-Ula, NEOM and Aseer reflect HRH the Crown Prince’s interest in all regions of the Kingdom. Additionally, all strategies are models for optimal exploitation of the nature, culture and history of each region in the Kingdom.

In another context, Al-Yaum newspaper reported in its editorial that the fluctuation of stock markets around the world is a natural result of the economic impacts accompanying the novel Coronavirus pandemic (COVID-19). Mostly everyone could not withstand the COVID-19 pandemic and its negative repercussions on the normal life cycle.

In light of the Kingdom of Saudi Arabia’s ability to confront the global pandemic, the Saudi Stock Exchange showed strength and stability, due to the balanced performance of the economic system and to the proactive measures and the unlimited sacrifices being exerted by the Kingdom of Saudi Arabia’s government, under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and HRH the Crown Prince.

The witnessed increase in stock trading, which takes place with millions of shares and billions of Riyals, affirm that the economic reforms, which accompanied the projects of the Kingdom’s Vision 2030, positively impacted the confidence of investors in the Saudi Stock Exchange in a way that enhances its performance compared to many global markets, the newspaper concluded.

Source: Saudi Press Agency