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Saudi Cultural Development Fund Launches Film Investment Program with SR 300 million Budget and Announces its Partnership to Establish the First Film Investment Fund with SR 375 million Budget
Bin Dayel stressed the importance of the Film Investment Program to create film production and distribution investment opportunities and open the door to creatives to launch projects that enhance cultural activities and empower the sector. He confirmed that the program contributes effectively to the development of the Kingdom's creative ecosystem and reaffirms CDF's position as a major investor in the Saudi film sector.
The launch of the Film Investment Program reinforces CDF's efforts to increase private sector investment in the cultural sector and develop its resources, with the aim of achieving economic diversification soon.
Through the investment program, CDF aspires to foster a more effective, self-sustainable film sector and subsequently a more vibrant film industry environment by 2030, where the private sector takes the leading role in investing in the sector.
The total budget allocated to the Film Sector Financing Initiative is the highest among all art and cultural initiatives in KSA. Therefore, the program is expected to develop creative talents and attract foreign expertise and investment, making the KSA a major film hub in the region.
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