Prime Highlight:
- The Ministry of Investment and the Cultural Development Fund signed an MoU to strengthen cultural investment and attract international companiesto Saudi Arabia’s cultural sector.
- The partnership supports Saudi Vision 2030 goals, positioning culture as a key driver of economic diversification and long-term growth.
Key Facts:
- The MoU was signed during the Cultural Investment Conferenceat the King Fahd Cultural Center in Riyadh.
- The agreement aims to expand opportunities in arts, heritage, and creative industries, boosting cultural exchange and local talent development.
Background
The Ministry of Investment has signed a memorandum of understanding (MoU) with the Cultural Development Fund to strengthen cultural investment and attract international companies to Saudi Arabia’s growing cultural sector.
The MoU was signed during the Cultural Investment Conference, hosted by the Ministry of Culture at the King Fahd Cultural Center in Riyadh.
Under the agreement, the two parties will work together to identify opportunities, design initiatives, and encourage international companies to establish operations in the Kingdom’s cultural industries. Officials said the collaboration will boost competitiveness in the sector and expand its contribution to the national economy.
The deal supports the Cultural Development Fund’s role as a hub of financial empowerment and expertise, while also creating a supportive environment for cultural investment. By combining efforts, the partnership aims to provide local and global investors with easier access to opportunities in the arts, heritage, and creative fields.
The initiative helps to align with the objectives of Saudi Vision 2030, where culture is viewed as a major incentive in expanding the economy and securing long-term growth.
The agreement encourages global cultural companies to enter the Saudi market, aiming to create new chances for local talent, boost cultural exchange, and strengthen Saudi Arabia’s role as a regional hub for creativity and innovation.
