TDF, SEN partner to back entrepreneurs in Saudi’s tourism sector

SAUDI ARABIA – The Tourism Development Fund (TDF) has signed an agreement with the Saudi Endeavor Network (SEN), the local representative of Endeavor International, which aims to improve opportunities for entrepreneurs in the tourism sector.

This allows local and international entrepreneurs to benefit from funding programs, financing and investment solutions and services from both parties.

The Memorandum of Understanding (MoU) will help promote the development of entrepreneurs in the tourism sector. The MoU aims to enrich tourism experiences in the Kingdom, positively reflect the prosperity of the tourism sector and create high-quality projects for tourism destinations by increasing opportunities for entrepreneurs, thereby promoting the Kingdom’s economic development.

The agreement was signed at the third edition of the Future Hospitality Summit, held in Dubai, United Arab Emirates, in the presence of Wahdan Alkadi, Chief Business Officer of TDF, and Latifa Al-Waalan, CEO of Saudi Endeavor Network.

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In addition, the two parties will build on their existing integration for mutual benefit to support local and international entrepreneurs in the tourism sector. It will also give the targeted entrepreneurs an opportunity to meet and meet with investors in the Kingdom to create new investment opportunities in the tourism sector that match the nature of the entrepreneurs’ businesses.

This networking opportunity will also facilitate marketing opportunities for the entrepreneurs within the tourism ecosystem. Endeavor will identify entrepreneurs within Endeavor’s global network and equip them with the Fund’s various programs and products. The network will promote investment opportunities and schemes offered by TDF and produce research and reports on entrepreneurship in the tourism sector in the Kingdom.

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Qusai bin Abdullah Al-Fakhri, CEO of TDF, said: “Through this MOU, TDF reaffirms its determination to support and empower entrepreneurs, to offer the best global experiences in entrepreneurship and to enhance the tourism experience by creating high-quality projects. TDF’s goal is to connect the private and public sectors to jointly support tourism development in the Kingdom and develop Saudi Arabia as a global tourist destination, in line with the goals of Saudi Vision 2030 and National Tourism Strategy.”

Saudi Endeavor Network CEO Latifa Al-Waalan said, “Saudi Endeavor Network aims to empower entrepreneurs by providing technology and innovation to build successful projects that positively impact the economy.”

“Working with TDF is an important opportunity to nurture and support promising entrepreneurs in this sector, especially as tourism development is one of the keys to the success of the Kingdom’s Vision 2030,” she added.

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TDF is attending the Future Hospitality Summit for the second time as a supporting partner, demonstrating that the tourism and hospitality sectors are the future economy of the Kingdom. The Fund’s sponsorship of the Summit is a qualitative opportunity that enhances its close communication with the target audience of investors and developers for the tourism and hospitality industry.

The Fund will also promote its key financing solutions and programs on offer through its exhibition at the Summit, and introduce support mechanisms and benefits to investors and entrepreneurs.

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