Major French companies have expressed their interest in accessing and investing in Saudi Arabia’s tourism and entertainment market as the Kingdom is quickly emerging as a popular destination for tourists and visitors from across the world in light of the major transformations taking place in the sector under Vision 2030, the official Saudi Press Agency (SPA) reported on Monday.
The remarks were made by the Federation of Saudi Chambers, represented by the Saudi-French Business Council, as it welcomed several specialized companies in the French entertainment sector, in the presence of presidents of the business councils from the two countries including Dr. Mohammad bin Laden and Laurent Germain, along with several businesspersons.
The French delegation comprised 30 representatives from French companies operating in the entertainment sector, covering fields such as amusement parks, manufacturing sports products, and e-games, among many others.
Germain said that the Kingdom’s entertainment industry has impressed the world within a short period of time, adding that the two countries have strong economic and political relations in light of a supportive diplomatic visits between leaders and officials.
Commending the outstanding development of the entertainment sector in the Kingdom in light of Vision 2030 and the mega projects that are being developed, Germain said it has provided big investment opportunities for major French companies that can, through their expertise, contribute to further developing this sector and realizing its targets, adding that these companies could inaugurate their headquarters in Riyadh to maximize benefits from these opportunities.
For his part, the Vice President of the French side at the council Eng. Fayez al-Alweit, highlighted the developments the sector is witnessing in the Kingdom and the exceptional opportunities it provides for foreign investors, expressing interest in major bilateral cooperation in this field.
Attendees listened to a briefing on Saudi Arabia’s entertainment sector and the key developments it has witnessed over the past few years, including the entertainment events such as Riyadh and Jeddah Season, major developments in the cinema space, and other events that attracted millions of visitors from inside and outside the country.
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