Saudi Arabia. The Tourism Development Fund (TDF) has signed an agreement with Saudi Endeavor Network (SEN), the local representative of Endeavor International, aimed at increasing opportunities for entrepreneurs in the tourism sector.
This will allow local and international entrepreneurs to benefit from support programs, financial and investment solutions and services provided by both parties.
The Memorandum of Understanding (MoU) will promote entrepreneurship in the tourism sector. The purpose of the Memorandum is to enrich the tourist experience in the Kingdom, positively reflect the prosperity of the tourism sector and create high-quality projects for tourist destinations by expanding opportunities for entrepreneurs, thereby contributing to the economic development of the Kingdom.
The agreement was signed at the third Future Hospitality Summit held in Dubai, UAE, in the presence of TDF Chief Commercial Officer Wahdan Alkadi and Saudi Endeavor Network CEO Latifah Al Waalan.
In addition, both sides will develop the existing integration for mutual benefit, in support of local and international entrepreneurs in the tourism sector. It will also give the target entrepreneurs an opportunity to meet and meet with investors in the Kingdom to create new investment opportunities in the tourism sector that suit the nature of the entrepreneurs’ business.
This networking opportunity will also facilitate marketing opportunities for entrepreneurs in the tourism ecosystem. Endeavor will identify entrepreneurs in Endeavor’s global network and provide them with access to the Fund’s various programs and products. The network will promote the investment opportunities and programs offered by the TDF, as well as produce research and reports on entrepreneurship in the Kingdom’s tourism sector.
Qusay bin Abdullah Al-Fakhri, CEO of TDF, said: “This Memorandum of Understanding by TDF confirms its commitment to supporting and empowering entrepreneurs and offering the best global experience in entrepreneurship, as well as enhancing the tourism experience through the creation of high-quality projects. The aim of the TDF is to bring together the private and public sectors to jointly support the development of tourism in the Kingdom, developing Saudi Arabia as a global tourism destination in line with the objectives of Saudi Vision 2030 and the National Tourism Strategy.”
Saudi Endeavor Network CEO Latifah Al Waalan said: “Saudi Endeavor Network is committed to supporting entrepreneurs by providing technology and innovation to create successful projects that positively impact the economy.”
“Collaboration with TDF is an important opportunity to strengthen and support promising entrepreneurs in this sector, especially since the development of tourism is one of the keys to the success of the Kingdom’s Vision 2030,” she added.
For the second time, TDF is participating as an enabling partner at the Future Hospitality Summit, demonstrating that the tourism and hospitality sectors are shaping the Kingdom’s future economy. The Foundation’s sponsorship of the Summit is a quality opportunity that enhances its close communication with a target group of investors and developers in the tourism and hospitality industry.
At the exhibition during the summit, the Foundation will also promote its best-known financial solutions and programs, introducing investors and entrepreneurs to the support mechanisms and benefits.
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