ASDA, investment ministry sign MoU to implement Aseer development strategy

Aseer Development Authority (ASDA) signed a memorandum of understanding with the Ministry of Investment for boosting investment in Aseer region across target sectors in the region's strategy and the National Investment Strategy, through aligning between their targets and initiative, and to provide attractive options for local and foreign investors, according to a statement.
 

Furthermore, the MoU includes cooperation in joint planning and strategic initiatives for both sides, in addition to the development of investment opportunities and address challenges facing target sectors, as well as marketing and activities and reporting fields for Aseer region in the investment sector.
 

Crown Prince Mohammed bin Salman unveiled on Sept. 28, a strategy to develop Aseer region into a global tourism destination under the theme "The Arabian Highland", which targets achieving a "comprehensive, unprecedented and sustainable growth for the region" through an investment of SAR 50 billion to finance vital projects and develop tourism attractions on and around the peaks of the Aseer mountains, according to Argaam's data.
 

In October, 2021, the Crown Prince launched the National Investment Strategy (NIS) – a key enabler of the Vision 2030 objectives - which seeks to raise net foreign direct investment to SAR 388 billion annually and boost local investment to SAR 1.7 trillion annually by 2030.