27/11/2019
Japanese companies are looking for partnerships in the entertainment industry in the Kingdom
A number of Japanese companies discussed ways to promote investment in the entertainment sector, in a meeting held on Monday, November 25, 2019, the Asharqia Chamber in cooperation with the Japanese Cooperation Center for the Middle East entitled "Investment opportunities with Japanese companies in the field of entertainment" at the headquarters of the Chamber.
Board Member Dr. Mohammed bin Saleh Al-Sayed said in the presence of Board Member Saadoun Al-Ataish Al-Khaldi, Secretary-General Abdulrahman Bin Abdullah Al-Wabel, and Senior Director of Planning and Projects at the Japanese Center, Koji Moto. The companies that participated in the meeting had previously worked in the Kingdom, where they carried out large projects related to the establishment of national and special events for the queen, and presented a distinctive model on the ground, where introduced technology and modern ideas in the technology of "animation" and "digital" in the entertainment industry. He also called on local companies to benefit from these experiences as well as Japanese companies to exploit the investment opportunities offered by the Kingdom in the field of entertainment and search for successful partnerships with local investors, adding that this contributes to the development of corporate performance in both parties.
Mr. Ban said the entertainment industry in the Kingdom is the sector promising and see the Kingdom of Saudi Arabia 2030 opened the way in the entertainment and tourism industries for local investors and foreigners to develop the infrastructure for building and organizing mega entertainment events, building cinemas and other leisure facilities.
He said that the Kingdom needs about 270 billion riyals to develop its infrastructure in the entertainment sector over the next few years, according to estimates by the General Authority for Entertainment in the Kingdom. He said that the tremendous development in the entertainment industry has become an urgent necessity to settle the funds that leave the Kingdom abroad to spend on entertainment, where information indicates more than 110 billion Saudi riyals spent on tourism and entertainment outside the Kingdom.
