The Ministry of Tourism unveils a program
Posted on: 5/12/2021, 8:35:22 AM
The integrated tourist resort plan legislation has been issued by the Ministry of Tourism. The law allows for the creation of several tourism facilities in an interconnected resort for a period of 20 years.
Lands, islands, or lagoons leased for integrated tourism construction projects will be provided depending on the financial capabilities to complete such a project, according to the ministry. Furthermore, under the tourism real estate initiative, integrated tourist resort construction permits are only available to businesses that are 100 percent owned by the government. Only after ten years of construction and operation of the integrated tourist resorts is the island, lagoon, or land rented to a third party. An incorporated tourist resort's license is valid for 20 years.