The Council of Ministers directed the Minister of Finance to urgently solve the challenges that hinder the Tourist Enterprises Company from launching major entertainment projects, and the reasons for the weakness of the developmental public transport movement, Al-Rai daily reported.
Informed sources told the daily that there are strong government directives to solve the problems that weaken the efforts of tourism projects in achieving the required objectives, noting that Finance Minister Khalifa Hamadeh shows great interest in the two files.
Source told the daily that there is reliance on tourism projects playing a major role during the coming period, explaining that the correspondence between the Ministry of Finance and company officials showed that the state property law is one of the most prominent challenges.
The sources pointed out that Law (105) related to state property does not give the tourism projects company the flexibility required to achieve its objectives, noting that one of the complications arising from this is the short duration of contracts that make tourism investment in major projects, especially long-term, discouraging investors.
The tourist projects also complain about the excessive oversight of the Audit Bureau, and the presence of overlap and conflict in a large set of regulations and procedures, in addition to the absence of incentives for tourism development, as well as the liquidity conditions that the state is going through due to the repercussions of the Corona pandemic.
The most prominent challenges:
– Inflexibility of the state property law
– Short contracting period for investors
– Absence of incentives for tourism development
– Liquidity conditions imposed by Corona
– Conflicting regulations and excessive control