June 28, 2022
French companies to explore investment opportunities in Saudi entertainment sector

French companies to explore investment opportunities in Saudi entertainment sector

The Federation of Saudi Chambers, represented by the Saudi-French Business Council, is scheduled to meet on Monday to host high-level discussions with French companies looking to explore investment opportunities in the Kingdom’s entertainment sector, the official Saudi Press Agency reported on Sunday.

The French delegation will be comprised of 30 representatives from French companies operating in the entertainment sector, covering fields such as amusement parks, manufacturing sports products, and e-games, among many others.

 

Around 100 business owners and Saudi companies from the entertainment industry are expected to participate in Monday’s meeting with the French delegates to explore ways to enhance investments in the sector and discuss views on issues related to the industry in both countries.

The Federation is keen to enhance cooperation between the Kingdom and France, SPA reported, during this important phase of economic growth and diversification as it seeks to localize leading international expertise and experiences.

The visits come in light of recent developments witnessed by the Saudi entertainment sector under the Saudi Vision 2030 which aims to increase the sector’s contribution to the economy to reach 4.2 percent of GDP by 2030 and provide 450,000 jobs.

So far, Saudi Arabia’s tourism sector has achieved a growth rate of 14 percent and the number of companies operating in the entertainment sector over has doubled to reach over 1,000.