WHY IT RATES: Government officials’ meetings this week will see a current Memorandum of Understanding between the two countries progress to become a contract that solidifies and formalizes terms for Saudi investment in The Bahamas’ tourism economy. — Laurie Baratti, TravelPulse Associate Writer
The Honourable I. Chester Cooper, Bahamas Deputy Prime Minister and Minister of Tourism, Investments & Aviation is leading a delegation of tourism officials to the Kingdom of Saudi Arabia for three days of meetings culminating in the signing of a multi-million-dollar contract with the Saudi Fund for Development to enhance economic tourism development in The Bahamas.
"Over the last few years, the Bahamas Ministry of Tourism officials have engaged in ongoing bilateral talks with government officials in the Kingdom of Saudi Arabia," said Deputy Prime Minister Cooper.
"Our continuing communication led last year into both countries entering into a Memorandum of Understanding, and this visit will culminate with the cementing of this agreement through a contract signing for the construction of innovative business incubation centres around our archipelago," he said.
While in Riyadh, the Deputy Prime Minister will meet with His Excellency, Ahmed Al Khateeb, Minister of Tourism and tour King Abdulaziz City for Science and Technology (KACST), formerly known as the Saudi Arabian National Centre for Science and Technology (SANCST), which is an independent scientific organization that is responsible for the promotion of science and technology in Saudi Arabia.
"The Bahamas and Saudi Arabia are creating unified strategy to share mutual tourism investment opportunities alongside day-to-day expertise in initiatives like sustainable tourism practices, management of tourism facilities and the sharing of insight and data," added the Deputy Prime Minister.
SOURCE: Bahamas Ministry of Tourism, Investments & Aviation press release.
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