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Saudi tourism fund invests over $500 mln since last year: Statement

Published: Updated:

Saudi Arabia’s Tourism Development Fund said on Monday it had deployed 2 billion riyals ($533 million) on tourism projects worth a total of around 6 billion riyals from its establishment last year until the end of September this year.

The remaining four billion riyals for the projects have come from the private sector, the fund said in a statement.

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Founded in June 2020 with an initial $4 billion investment, the fund is part of Saudi plans to diversify the economy away from the oil sector.

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