Saudi ministry sets up new firm to help generate investment in Asir region

  • 1/18/2021
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Saudi Minister of Municipal and Rural Affairs, Majid Al-Hogail, has issued directives to set up Asir Municipality Co. to support municipality business activities in Asir. Secretary of Asir region, Walid Al-Humaidi, was named as the chairman of the new firm. The new firm, which will be solely owned by the municipality, will help to provide many investments as well as development opportunities in partnership with the private sector in municipal, services and entertainment fields after thorough studies and in line with the nature of the region. According to the municipality, the new company will boost the quality of services, in light of Saudi Vision 2030, follow up and develop the ongoing projects, in addition to setting up mega tourist destinations. It will also play a significant role in the introduction of municipality services and the implementation of mega development projects. Additionally, Al-Hogail issued directives as regards forming the new company’s constituent board, which will include representatives from the Ministry of Municipal and Rural Affairs, Asir Development Authority in addition to two businessmen.

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