The target of Film Sector Funding Program is to strengthen domestic and foreign production firms in Saudi Arabia. Saudi Arabia has already allotted a area for the large scale film industry in their newly built city called NEOM.
The Film Sector Financing Plan, a project of the Ignite Digital Content Programme, has been launched by the Cultural Development Fund (CDF) of Saudi Arabia with a portfolio of SAR 879m ($234m).
The Saudi Ministry of Communications and Information Technology’s Ignite the Scene event, which was held in Riyadh, was where the news was made.
Both domestic and foreign companies engaged in the Saudi film industry are eligible for the programme. The private sector will be given financial packages as part of the goal to boost regional content and advance Saudi Arabian film production.
