The Saudi Red Sea Authority (SRSA) has signed two Memorandums of Understanding (MoUs), with Prince Albert II of Monaco Foundation and Monaco Yacht Club, aiming to develop coastal tourism in the Red Sea.The signing of the 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 SRSA, Mr. Mohammed Al-Asiri, Mr. Olivier Wenden, of the Prince Albert II of Monaco Foundation, and Mr. Bernard D’Alessandri, of Monaco Yacht Club.

The first MoU, with Prince Albert II of Monaco Foundation, is 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.

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