Saudi Red Sea Authority signs MoUs with Monaco Yacht Club and Prince Albert II of Monaco Foundation

In the presence of His Excellency the Minister of Tourism for Saudi Arabia and Chairman of Board of Directors at Saudi Red Sea Authority (SRSA) Ahmed Al Khateeb, SRSA today signed in Monaco two Memorandums of Understanding (MoU), with Prince Albert II of Monaco Foundation (‘Fondation Prince Albert II de Monaco’) and Monaco Yacht Club (‘Yacht Club de Monaco’), aiming to develop coastal tourism in the Red Sea.

The signing of the two agreements aligns with SRSA’s mandate to regulate the navigational activities of cruise ships and yachts, as well as to promote tourism and marine recreational activities.

Representing the parties in signing the MoUs at Monaco Yacht Club’s headquarters were His Excellency the Acting CEO of Saudi Red Sea Authority Mohammed Al-Asiri; Olivier Wenden, of the Prince Albert II of Monaco Foundation; and Bernard D'Alessandri, of Monaco Yacht Club. 

SRSA seeks expanded strategic partnerships with relevant international entities by signing the two agreements, with the aim of encouraging coastal tourism in the Red Sea and applying international best practices to SRSA’s activities. 

The first MoU, with Prince Albert II of Monaco Foundation, aims to promote cooperation in developing human capital and future leaders; hosting joint events; exchanging knowledge and experiences in areas of mutual interest; initiatives and research projects to explore new solutions to global challenges; and raising awareness of important issues and promoting positive change through joint awareness campaigns. 

The second MoU, with Monaco Yacht Club, aims to promote cooperation in organizing joint events between the two sides; environmental initiatives; promoting sustainable practices in the Red Sea; maximizing the use of marine professionals to offer courses in navigation, safety, and environmental stewardship; research projects related to the marine environment and sustainable development; and joint action to promote Red Sea tourism development. 

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Describing the two MoUs as “strategic partnerships”, His Excellency the Acting CEO of Saudi Red Sea Authority Mohammed Al-Asiri said: “The two Memorandums of Understanding aim to improve cooperation with global maritime entities in order to achieve our goals in developing the maritime sectors, ensuring the protection of the natural environment, and encouraging coastal tourism in the Kingdom, including developing it economically.”

Accompanied by a delegation from the Saudi Ministry of Tourism, SRSA discussed its mandate, that included growing its strategic partnerships, in a series of meetings with His Excellency the Minister of State of the Principality of Monaco Pierre Dartout; Monaco’s Department of Maritime Affairs; and yacht management company Hill Robinson. ​