Latest news with #CHEFPreneur
Arab News
03-05-2025
- Business
- Arab News
Saudi fund CEO sheds light on economic power of culture
RIYADH: Saudi Arabia is advancing with unwavering confidence toward a brighter future, honoring its deep-rooted cultural legacy while drawing strength from an ambitious vision for a sustainable cultural sector, the CEO of the Saudi Cultural Development Fund said at Expo 2025 Osaka. Majed bin Abdulmohsen Al-Hugail virtually took part in a panel discussion, titled 'Creative Sustainability: Investing in Culture with Long-Term Impact.' The Saudi Cultural Development Fund is committed to driving long-term impact and sustainable growth within the cultural sector through innovative solutions and strategic partnerships between the public, private, and nonprofit sectors. Majed Al-Hugail added: 'The Kingdom's participation at Expo 2025 Osaka is bringing the best of Saudi Arabia to the world stage and providing an opportunity for the world to witness Saudi Arabia's remarkable transformation.' (Supplied) Through pioneering solutions, the fund is contributing to turning Saudi Arabia's cultural sector into a powerful economic force, while also fostering long-term sustainability — fully aligned with the ambitions of Vision 2030. Al-Hugail emphasized the economic power of culture, saying that true investment extends beyond infrastructure or innovation alone and lies in securing the cultural sector's lasting vitality within the economy. By embracing visionary sustainable strategies, culture evolves into a living, breathing force, one that fuels economic prosperity, nurtures creativity, and weaves a stronger, more resilient social fabric. The fund is taking part in Expo 2025 Osaka within the Saudi Arabia Pavilion. (Supplied) During the panel discussion, Al-Hugail said: 'At the Saudi Cultural Development Fund, sustainability is not just a goal; it is at the core of everything we do. Our approach is guided by key indicators that align with global Environmental, Social, and Governance standards.' In pursuit of economic sustainability with lasting positive social impact, the Saudi Cultural Development Fund focuses on supporting businesses that build capabilities. A notable example is the fund's backing of the 'CHEFPreneur' program, which has equipped 42 Saudi women with culinary and entrepreneurial expertise, empowering them with the skills to start their businesses in the culinary sector. The panel also explored sustainable business models in the cultural sector. As funding landscapes continue to evolve globally, the sector is turning to innovative alternatives. This new wave of cultural financing includes emerging models such as public-private partnerships, which play a key role in fostering an economically sustainable cultural sector. As an example, the fund has forged a pioneering collaboration with several leading Saudi banks and the Saudi Credit Bureau to strengthen its offerings and enhance the efficiency of credit decision-making processes. Demonstrating its commitment to sectoral growth, the fund also contributed 40 percent to the $100 million Saudi Film Fund, aimed at expanding the Kingdom's film industry, attracting private sector investment, and driving the sector's long-term development. Last year, the fund launched 'Cultural Financing,' an inclusive umbrella of financial services designed to support micro, small, and medium-sized cultural enterprises across all stages of the value chain — fostering the growth and expansion of cultural projects. Al-Hugail concluded the panel discussion by saying: 'Through international exhibitions like Expo 2025 Osaka, visitors can experience Saudi Arabia's rich cultural diversity and preview a forward-looking vision of the country's future.' He added: 'The Kingdom's participation at Expo 2025 Osaka is bringing the best of Saudi Arabia to the world stage and providing an opportunity for the world to witness Saudi Arabia's remarkable transformation.' The fund is taking part in Expo 2025 Osaka within the Saudi Arabia Pavilion, highlighting the Kingdom's strategy to position culture as a major economic force while ensuring its sustainable growth. This aligns with both the National Cultural Strategy and Vision 2030, which focus on diversifying the national economy, with the fund serving as a primary financial enabler for the cultural sector.
Arab News
22-03-2025
- Business
- Arab News
Saudi fund celebrates cultural innovation at Storytellers event
Riyadh: The Cultural Development Fund hosted the third annual Storytellers event in Riyadh, bringing together key officials, cultural leaders, entrepreneurs and creators from various cultural fields. The gathering is part of the fund's efforts to strengthen connections, explore new opportunities and support the sector's momentum, according to the Saudi Press Agency. It featured a keynote by the fund's CEO, Majed Al-Hugail, followed by remarks from representatives of the Elite Chefs Center, behind the CHEFPreneur program — one of the initiatives supported by the fund. The program equips aspiring chefs with culinary expertise and entrepreneurial skills to launch their own projects and establish competitive businesses. The gathering also celebrated 42 graduates of the program who had completed their training. In line with its commitment to supporting enabled projects, the fund showcased several beneficiary projects, allowing guests to experience their creative offerings firsthand. The event featured cultural activities aligned with the Year of Handicrafts 2025. Guests took part in traditional crafts like prayer bead-making and henna art, while a special art exhibition showcased works by visual artist and craftswoman Naifah Al-Shahrani. Inspired by the traditional Al-Qatt Al-Asiri, the exhibition honored the rich heritage of southern Saudi Arabia with vibrant colors and intricate details. The event aimed to strengthen strategic partnerships with government entities, the private sector and nonprofit organizations to drive sustainable growth in the cultural sector, contributing to economic development and enhancing quality of life. Nawaf Al-Owain, the fund's marketing and communication executive director, told Arab News: 'This annual gathering is part of the fund's efforts to foster strong partnerships with key stakeholders and sustain the cultural sector's momentum. 'It also reflects the fund's role as a key financial enabler and its commitment to empowering creatives and cultural entrepreneurship.' He added: 'Now in its third year, the event has become a cornerstone of the fund's outreach efforts, establishing a platform that unites creatives, entrepreneurs and influencers to exchange ideas, share perspectives, and explore collaboration opportunities across cultural and financial sectors. 'By fostering dialogue and collaboration, the fund aims to promote partnerships that drive growth and sustainability in the cultural sector.'
Asharq Al-Awsat
21-03-2025
- Business
- Asharq Al-Awsat
Saudi Arabia's CDF Brings Together Cultural Leaders, Influencers at ‘Storytellers' Suhoor
The Cultural Development Fund (CDF) hosted the 2025 "Storytellers" Suhoor, bringing together high-ranking officials, cultural and development sector leaders, entrepreneurs, and creators across various cultural fields. The gathering is part of the fund's ongoing efforts to strengthen connections within the cultural sector, explore new opportunities, and support the sector's exceptional momentum. As a key financial enabler, the CDF continues to play a vital role in nurturing Saudi culture and inspiring creativity. The evening featured a keynote speech by CDF Chief Executive Majed Al-Hogail, followed by remarks from representatives of the Elite Chefs Center, the team behind the "CHEFPreneur" program—one of the initiatives supported by the fund. The event also celebrated 42 graduates of the program, recognizing their successful completion of the training journey. The CHEFPreneur program is a specialized training initiative designed to equip aspiring chefs with both culinary expertise and entrepreneurial skills, enabling them to launch their own projects and establish competitive businesses in the field. In line with its commitment to supporting projects it has enabled, the CDF showcased several beneficiary projects during the event, allowing guests to experience their creative offerings firsthand. Held in a distinctive Ramadan atmosphere, the gathering included cultural activities aligned with the Year of Handicrafts 2025. Guests engaged in traditional craft experiences such as prayer bead-making and henna art, while a special art exhibition featured works by visual artist and craftswoman Naifah Alshahrani. Inspired by the traditional Al-Qatt Al-Asiri, the exhibition paid tribute to the rich heritage of southern Saudi Arabia. The interplay of colors and intricate details added a unique artistic touch to the evening. This marks the third consecutive year the CDF has hosted the "Storytellers" event. The 2025 edition was held at AlMashtal Creative Incubator—one of the fund's beneficiaries—reinforcing its ongoing support for cultural entrepreneurs and small and medium enterprises (SMEs) in the cultural landscape. The event also aimed to strengthen strategic partnerships with government entities, the private sector, and nonprofit organizations to drive the sustainable growth of the cultural sector, ultimately contributing to economic development and enhancing quality of life.
