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Red Sea Global partners with the National Livestock and Fisheries Development Program to support the Kingdom’s fishing industry

Published

04 Dec 2023

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Red Sea Global partners with the National Livestock and Fisheries Development Program to support the Kingdom’s fishing industry

Published

04 Dec 2023

Share

Agreement strengthens efforts to create the largest Marine Protected Area in the Red Sea.


Riyadh, 04 December 2023: Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has signed a Memorandum of Understanding (MoU) with the National Livestock and Fisheries Development Program (NLFDP) to collaborate on ensuring environmentally and economically sustainable fishing practices in the Kingdom.

The MoU was signed at the Saudi Green Initiative Forum alongside COP28. The agreement sees both partners working together to ensure fishing in the Kingdom is sustainable, both for marine life and for the fishermen who make their living through fishing, specifically around The Red Sea and Amaala destinations.

 

"At RSG, we are committed to sustainability for people and planet. Fishing is a sector that if not well managed can jeopardize futures, either for marine life or for fishermen. We will work with the NLFDP to ensure a sustainable fishing industry is allowed to flourish along the Red Sea coast while ensuring our key habitats and biodiversity are able to thrive in line with our commitment to delivering a 30 percent net conservation benefit by 2040,"
said John Pagano, Group CEO at Red Sea Global.

 


RSG and NLFDP agreed to work together to identify areas within The Red Sea and Amaala where sustainable fishing can take place. They will also collaborate to determine environmentally appropriate fishing methods. This includes establishing requirements and standards for sustainable fishing.

At the same time, RSG and NLFDP will provide local fishermen with training to encourage sustainable fishing practices, as well as offering support so they can better market their catch, including to hotels at RSG’s destinations. Other areas for collaboration include the provision of modern refrigerated transport trucks, boats and fishing equipment. They will also look to establish a special association to revive and protect ancient sustainable fishing techniques.

The agreement also supports RSG’s efforts with the Ministry of Environment, Water and Agriculture to create the largest Marine Protected Area (MPA) in the Red Sea. The developer has already completed baseline studies of biodiversity, and social, economic and cultural characteristics of the communities surrounding its destinations ahead of creating the MPA. As well as this, the partnership supports NLFDP’s drive to encourage more Saudis to enter the fishing industry, as part of its role in achieving Vision 2030. 


Dr Ali bin Mohammed Al Shaikhi, CEO of NLFDP, said: "NLFDP aims to upgrade the fisheries sector and develop work in sustainable ways, and this MoU is the first step to activate the partnership between us and RSG to empower the local community and enhance the sector's contribution to the national economy."

The Red Sea recently welcomed its first guests. Two of its hotels are open for bookings and the Red Sea International Airport has been receiving a regular schedule of flights since September. Amaala remains on track to welcome first guests in 2025, when the first resorts complete as part of Triple Bay phase one, along with the marine life institute and the iconic Yacht Club.

About Red Sea Global

Red Sea Global (RSG - www.redseaglobal.com) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) ofSaudi Arabia.

RSG is a global multi-project developer, seeking to lead the world towards a more sustainable future, showing how responsible and regenerative development can uplift communities, drive economies, and enhance the environment. The protection of natural capital is central to all development decisions, as the organization seeks to create abetter future for all.

A cornerstone of Saudi Arabia’s Vision 2030 ambition to diversify its economy, RSG is playing a key role in transforming the nation, by creating exciting opportunities for young Saudi talent and the private sector, as it develops built assets and destinations across multiple sectors that make a positive impact for people and planet.

RSG is the visionary company behind some of the world’s most ambitious development ventures, including luxury regenerative tourism destinations such as The Red Sea and AMAALA.

Across its portfolio, RSG leverages the most innovative concepts, strategies, and technologies to deliver projects that actively enhance the wellbeing of customers, communities, and environments.

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