At the Future Investment Initiative (FII) in Riyadh, Vice Minister for Culture, Hamed bin Mohammed Fayez, highlighted an impressive list of over 100 cultural initiatives, engagements and events taking place in the Kingdom before the end of the year.
The vibrant and varied schedule includes many events led by the 25 cultural institutions the Ministry of Culture has launched since its inception three years ago. During the panel appearance, H.E. Fayez said that Saudi culture is being uncovered and energized at an unprecedented scale and pace, that the Kingdom’s ambitions are presenting many opportunities for both the local and international private sector, and that Saudi Arabia is already actively contributing to the global creative industry.
“This is an exciting time for culture in Saudi Arabia. In the coming weeks alone, we will host our first major international film festival, our first art biennale and international festivals like Fashion Futures and MDLBeast,” said H.E. Fayez. “These events flow from the Kingdom’s steady progress to nurture creativity and create a vibrant cultural economy in the Kingdom.”
In other signs of rapid progress and newfound ambition, the Ministry has developed a strategy that will open new cultural investment opportunities through PPPs or joint ventures, bolster the infrastructure around creative industries, and ease regulation to allow businesses to thrive. Coupled with growing demand for culture across the Kingdom, the changing Saudi cultural landscape has already caught the eye of international investors.
H.E. Fayez was quick to point out that the Ministry’s role was not limited to the promotion of the creative industries inside the Kingdom but also to increasing and improving the quality of culture exchange with its global peers.
“I am deeply proud of the Kingdom successfully campaigning for culture and the creative industries to be formally part of the conversation at the G20,” said H.E. Fayez during his panel discussion. “It started during Saudi’s presidency last year and has continued, which means we have ensured culture has a permanent place in G20 considerations and is part of the global economic agenda.”