Latest news with #MajedbinAbdulmohsenAl-Hugail
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.
Business Wire
21-04-2025
- Business
- Business Wire
Saudi Arabia's Cultural Development Fund Participates in Expo 2025 Osaka
RIYADH, Saudi Arabia--(BUSINESS WIRE)--The Saudi Cultural Development Fund (CDF) has announced its participation in Expo 2025 Osaka as part of the Saudi Pavilion, taking place in Japan from April 13 to October 13, 2025. CDF's presence at the Expo underscores Saudi Arabia's commitment to developing the cultural sector and strengthening its role as a driver of economic growth and long-term sustainability—aligned with the National Culture Strategy and Vision 2030's goals for economic diversification. In addition to reinforcing its role as a key financial enabler of Saudi Arabia's cultural sector, CDF will contribute to highlighting Saudi Arabia's rich heritage and flourishing cultural identity, shaped by the journey of Vision 2030. Furthermore, the participation aims to welcome global investment, foster cultural entrepreneurship, and encourage innovation—while showcasing the sector's potential to contribute to sustainable development. Throughout Expo 2025, CDF will organize a range of activities that spotlight investment opportunities within Saudi Arabia's cultural landscape. A key focus will be on cultural entrepreneurship and businesses as drivers of economic growth and social impact—particularly through the lens of the Year of Handicrafts initiative. This platform will celebrate innovative cultural projects supported by CDF and share their success stories with international audiences. CDF will also take part in panel discussions and networking sessions alongside local and global experts, offering insights into the Kingdom's diverse cultural landscape across its 16 cultural sectors. These sessions will introduce CDF's tailored financial and enablement solutions to support cultural projects and businesses. Additionally, dedicated workshops will be held to familiarize participants with available support and highlight the Saudi cultural sector's economic potential. Majed bin Abdulmohsen Al-Hugail, CEO of the Cultural Development Fund, stated: 'Our participation in Expo 2025 Osaka reflects our commitment to supporting and shaping a vibrant, sustainable cultural sector—one that fuels economic growth and attracts top-tier investment, both locally and globally. We are proud to feature the stories of CDF beneficiaries, who will share their creative journeys with Expo visitors as inspiring examples of Saudi cultural innovation.' He added: 'We continue to reinforce the Kingdom's position as a leading force in the global cultural scene, ensuring our efforts are fully aligned with the broader cultural ecosystem. Looking ahead, we remain committed to the journey toward becoming a center of financial excellence in the cultural sector and a key contributor to the ambitions of Saudi Vision 2030.' Expo 2025 Osaka will bring together countries and global organizations under the theme 'Designing Future Society for Our Lives,' to spark global conversations around innovation, sustainability, and resilience to share ideas and initiatives that address common challenges and shape a better future. The Cultural Development Fund was founded in 2021 with the aim of further enhancing the cultural landscape within Saudi Arabia. Organizationally linked to the National Development Fund, to promote the development of a self-reliant cultural sector in alignment with the National Culture Strategy and Saudi Vision 2030.
Zawya
17-04-2025
- Business
- Zawya
Saudi Arabia's Cultural Development Fund participates in Expo 2025 Osaka
Riyadh, Saudi Arabia: The Saudi Cultural Development Fund (CDF) has announced its participation in Expo 2025 Osaka as part of the Saudi Pavilion, taking place in Japan from April 13 to October 13, 2025. CDF's presence at the Expo underscores Saudi Arabia's commitment to developing the cultural sector and strengthening its role as a driver of economic growth and long-term sustainability—aligned with the National Culture Strategy and Vision 2030's goals for economic diversification. In addition to reinforcing its role as a key financial enabler of Saudi Arabia's cultural sector, CDF will contribute to highlighting Saudi Arabia's rich heritage and flourishing cultural identity, shaped by the journey of Vision 2030. Furthermore, the participation aims to welcome global investment, foster cultural entrepreneurship, and encourage innovation—while showcasing the sector's potential to contribute to sustainable development. Throughout Expo 2025, CDF will organize a range of activities that spotlight investment opportunities within Saudi Arabia's cultural landscape. A key focus will be on cultural entrepreneurship and businesses as drivers of economic growth and social impact—particularly through the lens of the Year of Handicrafts initiative. This platform will celebrate innovative cultural projects supported by CDF and share their success stories with international audiences. CDF will also take part in panel discussions and networking sessions alongside local and global experts, offering insights into the Kingdom's diverse cultural landscape across its 16 cultural sectors. These sessions will introduce CDF's tailored financial and enablement solutions to support cultural projects and businesses. Additionally, dedicated workshops will be held to familiarize participants with available support and highlight the Saudi cultural sector's economic potential. Majed bin Abdulmohsen Al-Hugail, CEO of the Cultural Development Fund, stated: 'Our participation in Expo 2025 Osaka reflects our commitment to supporting and shaping a vibrant, sustainable cultural sector—one that fuels economic growth and attracts top-tier investment, both locally and globally. We are proud to feature the stories of CDF beneficiaries, who will share their creative journeys with Expo visitors as inspiring examples of Saudi cultural innovation.' He added: 'We continue to reinforce the Kingdom's position as a leading force in the global cultural scene, ensuring our efforts are fully aligned with the broader cultural ecosystem. Looking ahead, we remain committed to the journey toward becoming a center of financial excellence in the cultural sector and a key contributor to the ambitions of Saudi Vision 2030.' Expo 2025 Osaka will bring together countries and global organizations under the theme 'Designing Future Society for Our Lives,' to spark global conversations around innovation, sustainability, and resilience to share ideas and initiatives that address common challenges and shape a better future. The Cultural Development Fund was founded in 2021 with the aim of further enhancing the cultural landscape within Saudi Arabia. Organizationally linked to the National Development Fund, to promote the development of a self-reliant cultural sector in alignment with the National Culture Strategy and Saudi Vision 2030.
