Dr. Abdulaziz Al-Zar Allah
Last Tuesday, January 17, 2023, His Highness Prince Mohammed bin Salman Al Saud, Crown Prince – God protect him – launched the Investment Events Fund to develop infrastructure to support the sectors: culture, tourism, entertainment and sports announced the launch of
This fund (investment activities) works to create land and infrastructure for sectors such as culture, tourism, entertainment and sports. It constitutes one of the key tributaries to achieving the Saudi Vision 2030, and the goals of improving the quality of life in the Kingdom. It also nurtures economic trends based on diversifying the kingdom’s non-oil sources of income, as the Kingdom would go after oil.
It is also – Events Investment Fund – a social project that meets the wishes of a wide segment of society as one of the social paths of the Saudi Vision 2030 or Project 2045 with regard to its consequences on the home and local economy refers with. The media arm of the Saudi vision internally and externally, as well as tourism, for which it set a target of attracting 100 million tourists and visitors, as well as entertainment, which represents a network of activities and events based on reform Huh. The lifestyle of our society and the visitors who have chosen the state as a destination for tourism, while the association of sports with global investment has resulted in sports becoming an important pivot for building the local and international economy.
The Events Investment Fund aims to:
– Forging strategic partnerships to maximize impact in target areas.
– Increasing the possibility of attracting foreign investment.
– Contribute to achieving the goals of the Kingdom’s Vision 2030 by building a prosperous economy and a vibrant society.
To develop sustainable infrastructure to the highest standards to support the entertainment, tourism, culture and sports sectors in the Kingdom.
To develop more than 35 unique websites by 2030.
– To enhance the Kingdom’s position as a global hub for various activities and events.
To provide a global infrastructure that provides an opportunity to offer a distinctive program of programs and activities that meet national aspirations.
To achieve sustainable financial benefits, to diversify the economy, to achieve the goals of Vision 2030 by diversifying the state’s non-oil sources of income.
Examples of these projects are art galleries, theatres, convention centres, horse racing tracks, shooting ranges and car racing. The first project is expected to be delivered during the year 2023.
To increase the economic contribution of the tourism sector from 3% to 10% of GDP and establish a sustainable infrastructure with the aim of attracting 100 million visitors by 2030.
– The Investment Events Fund’s activities focused on developing and enhancing direct investment opportunities for international companies and banks, and contributing to GDP equivalent to 28 billion riyals by 2045.
To enhance the possibilities of partnership and business between the public and private sectors, to achieve a supportive environment for strategic partnership and to increase job opportunities for citizens.
The activities of the Events Investment Fund are in line with the National Development Fund’s strategy, which aims to make the Fund a driving force and a primary driver of the economic and social goals of the Kingdom’s Vision 2030.