Ministry Is Planning To Sell The Touristic Enterprises Company To A Private Company

The Minister of Finance Dr Nayef Al-Hajraf has denied reports that the ministry is planning to sell the Touristic Enterprises Company to a private company. He clarified that the company is currently studying the future strategy that includes establishing subsidiaries in the tourism sector as a way of actualizing its strategy, reports Al-Nahar daily.

In response to parliamentary questions, the minister explained that the Chief Executive Officer of the company presented the strategy and the Council of Ministers approved it.

The council applauded its contents, ideas and projects. The company has been mandated to propose alternatives for funding and execution of the projects contained in the strategy. It has been upgrading its facilities through self funding. The company signed 24 consultancy contracts, most of which have been executed alongside some companies in various aspects such as public relations and marketing.

Mechanisms for funding and tax, and salary restructure have been improved, and structural plans for upgrading the Entertainment City, beaches, Al-Khairan Park, facilities for services at the airport, sea clubs, Al-Belajat Beach, Ras Al-Ardh, Messila, Egaila, and Marina Yacht Club have been prepared. They also include upgrading water and sea sports facilities at relaxation areas in Salmi, Abdali and Nuwaiseeb

 

SOURCE : ARABTIMES

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