Government to Provide Concessions, Assistance to Long-Undeveloped Resort Projects: Minister Faisal

Minister of Tourism Ibrahim Faisal announced that the government will provide concessions and assistance for long-undeveloped resort projects. There are 63 islands leased for tourism that have not become operational, some leased 30 years ago. The Economic Council approved two options: islands can be handed back without conditions, with concessions arranged by the Finance Ministry and MIRA for outstanding amounts; or for partially developed islands, assistance will be given to find investors or sell the project. The law will be amended to facilitate this. Faisal assured that many islands will open within five years, with 12-15 new resorts expected this year adding 2,600 beds.

Minister of Tourism Ibrahim Faisal announced that the government will provide concessions and assistance for long-undeveloped resort projects. There are 63 islands leased for tourism that have not become operational, some leased 30 years ago. The Economic Council approved two options: islands can be handed back without conditions, with concessions arranged by the Finance Ministry and MIRA for outstanding amounts; or for partially developed islands, assistance will be given to find investors or sell the project. The law will be amended to facilitate this. Faisal assured that many islands will open within five years, with 12-15 new resorts expected this year adding 2,600 beds.

Minister of Tourism Ibrahim Faisal announced that the government will provide concessions and assistance for long-undeveloped resort projects. There are 63 islands leased for tourism that have not become operational, some leased 30 years ago. The Economic Council approved two options: islands can be handed back without conditions, with concessions arranged by the Finance Ministry and MIRA for outstanding amounts; or for partially developed islands, assistance will be given to find investors or sell the project. The law will be amended to facilitate this. Faisal assured that many islands will open within five years, with 12-15 new resorts expected this year adding 2,600 beds.

This story involves 1 source and may affect public understanding of resort projects / tourism development.