His Excellency the chairman of the General Entertainment Authority Mr. Turki bin Abdul Mohsen Al-Sheikh met with the executive directors of the Saudi banks and national investment funds, in addition to a number of investors in the entertainment sector in the Kingdom. The meeting was held today afternoon (Monday) in his office at the headquarters in Riyadh and featured an overview of the investment opportunities the sector boasts in the Kingdom, as well as funding solutions which can be offered to its investors and enterprises.
Commencing the meeting, H.E. warmly welcomed the attendees, highlighting the entertainment sector’s worth and significance as an economic contributor the Kingdom relies on to achieve economic diversification and to attract more investments, contributing to GDP growth and achieving Saudi Vision 2030. Furthermore, the entertainment sector has a key role in elevating the quality of life, generating employment opportunities for nationals, and promoting the Kingdom’s position as the entertainment destination of choice across the region and the world, by attracting the most popular activities and entertaining events, which ensures shifting the focus of entertainment towards the Kingdom in alignment with Vision 2030.
At the meeting, Al-Sheikh touched on the promising investment opportunities that the entertainment sector offers, encouraging Saudi banks and investment funds to capitalize on these opportunities through developing and creating initiatives and integrated funding programs to support the private sector’s small and medium enterprises (SMEs) operating in the sector, contributing to its growth, guaranteeing its sustainability, and boosting the local content for the entertainment activities.
The meeting is attributable in part to the GEA’s primary role in organizing and developing the entertainment sector as an economic contributor, boosting the process of growth and investment, and attracting local and foreign investments to the sector, to benefit from the entertainment opportunities and to create sustainable entertainment.