Latest news with #SaudiFilmFund
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.
Broadcast Pro
21-02-2025
- Business
- Broadcast Pro
CDF concludes Berlinale 2025, showcasing Saudi film industry growth
CDF's participation in Berlinale extends its ongoing efforts to contribute to the sustainable growth of Saudi Arabia's film sector. The Cultural Development Fund (CDF) has concluded its participation at the 75th Berlin International Film Festival (Berlinale), held from February 13 to 19. Representing Saudi Arabia at the festival's pavilion, CDF engaged with international filmmakers, industry leaders and potential partners, highlighting the Kingdom's thriving film industry and exploring collaboration opportunities. As a key financial enabler of Saudi Arabia's cultural sector, CDF showcased its role in empowering film production through its Cultural Financing initiative. This financial programme offers funding solutions to support both local and international filmmakers looking to develop projects in the Kingdom. By fostering strategic partnerships, CDF aims to attract global talent and investment, reinforcing Saudi Arabia's position as an emerging film industry hub. A major highlight of CDF's participation was its promotion of Cultural Financing, which provides flexible financial solutions for businesses in all 16 cultural sectors, including film. With a focus on micro, small and medium enterprises (MSMEs), the initiative offers competitive financing options to help creative businesses expand and sustain long-term growth. CDF's presence at Berlinale aligns with its broader mission to drive sustainable growth in Saudi Arabia's film sector, encourage international film companies to establish operations in the Kingdom and bolster the industry's contribution to the national economy. Recently, CDF secured SAR 375 million for the Saudi Film Fund from 10 local and international investors. As an anchor investor, CDF contributed 40% of the fund's total capital, which is dedicated to enhancing infrastructure, production capabilities, and industry-related ventures. CDF's participation underscores Saudi Arabia's commitment to expanding its creative industries under Vision 2030, further positioning the Kingdom as a leading destination for film production and storytelling.
Asharq Al-Awsat
20-02-2025
- Business
- Asharq Al-Awsat
Saudi CDF Says it Engaged with Filmmakers, Potential Partners at Berlin Film Festival
The Saudi Cultural Development Fund (CDF) has concluded its participation in the 75th Berlin International Film Festival, which was held from February 13 to 19. As part of the Saudi pavilion, CDF engaged with international filmmakers, industry professionals, and potential partners, exploring promising opportunities in Saudi Arabia's rapidly growing film sector. CDF aimed to highlight its role as a key financial enabler of the Kingdom's cultural sector and its contributions to developing film production. It also presented its financial solutions through Cultural Financing, demonstrating how it empowers local and international filmmakers to launch and expand their projects in the Kingdom. CDF also aimed to foster strategic partnerships within the global film community—connecting with filmmakers, potential collaborators, and investors to explore new opportunities in the sector. One of the key highlights of CDF's participation was showcasing the Cultural Financing to visitors—its overarching framework for financial services that supports projects across all 16 cultural sectors, including film—seeking to attract global talent across the entire film value chain and playing a crucial role in advancing the industry's development in the Kingdom. Focusing on micro, small, and medium enterprises (MSMEs), the Cultural Financing offers flexible financing solutions with competitive interest rates, enabling businesses to establish and expand operations while ensuring long-term sustainability, profitability, and financial security. CDF's participation in Berlinale extends its ongoing efforts to contribute to the sustainable growth of Saudi Arabia's film sector, encourage global companies to establish operations in the Kingdom and solidify its position as a regional and international hub for creative content production. In this context, CDF recently announced closing its fundraising efforts for the Saudi Film Fund, securing SAR375 million from 10 local and international investors in partnership with the private sector. As the first investment fund of its kind in Saudi Arabia, with the Cultural Development Fund serving as an anchor investor contributing 40% of the total capital, the Saudi Film Fund is dedicated to investing in infrastructure, production capabilities, and sector-related entities. This will further reinforce the film sector's contribution to the national economy and enhance the quality of life in Saudi Arabia.
