The Saudi Red Sea Authority signed a Memorandum of Understanding today with Fincantieri, a global leader in the maritime industry. The goal is to strengthen collaboration in developing and managing coastal tourism activities across the Kingdom, supporting the sector’s sustainable growth.

The MoU was signed by Mr. Mohammed Al-Nasser, CEO of SRSA, and Mr. Pierroberto Folgiero, CEO and Managing Director of Fincantieri.

This agreement supports SRSA’s mandate, which includes protecting the marine environment, setting standards and regulations for coastal marinas, and leveraging international best practices to enhance coastal tourism.

The MoU focuses on developing coastal tourism while preserving marine ecosystems and natural resources. It also emphasizes maritime safety and security, improving marina infrastructure, and cooperating on research and innovation in advanced marine technologies.

This step reflects SRSA’s commitment to accelerating progress through strong partnerships with both public and private sectors, locally and globally. It aims to expand strategic alliances, share expertise, and apply global practices that promote regenerative tourism, sustainable growth, and the positioning of the Red Sea as a premier international destination while preserving its untouched environment.