Manama: The Ministry of Tourism and Gulf Singapore Bank (SGB) have entered into a strategic Memorandum of Understanding (MoU) at Gulf Gateway 2025, poised to introduce new initiatives aimed at enhancing financial and tourism sustainability, attracting premium investments, and bolstering the tourism economy in Bahrain and the broader region.
According to Bahrain News Agency, Fatima bint Jaafar Al Sairafi, Minister of Tourism and Chairperson of the Bahrain Tourism and Exhibitions Authority (BTEA), emphasized Bahrain's dedication to fostering international collaborations in financial innovation and smart tourism, aligning with the Kingdom's Tourism Strategy 2022-2026. She highlighted the significance of the MoU in deepening partnerships with leading global financial institutions, noting that the collaboration with SGB will stimulate business tourism growth, develop innovative smart tourism solutions, and enhance the synergy between the tourism and banking sectors to elevate Bahrain's status as a regional hub for business and tourism.
Justin Haan, CEO of SGB, underscored Bahrain's potential to become a regional leader in tourism and digital finance innovation. He remarked that the MoU will empower both parties to reinforce the business tourism ecosystem and implement smart digital solutions that enhance visitor experiences, streamline services, and promote sustainable economic growth in the region.
The agreement aims to boost public-private collaboration through joint initiatives in sustainable tourism and create a framework for sharing expertise and innovation, positioning Bahrain as a model of tourism excellence with a strong emphasis on business tourism.