The Saudi Cultural Development Fund participated in at the 77th edition of the Cannes International Film Festival between 14 and 25 May, alongside partners from the Kingdom’s film industry to showcase financing and investment opportunities on offer across the Saudi film sector as part of the Fund’s role as a key financial enabler of the cultural sector and in keeping with its pivotal mission of nurturing the film sector.
The Fund was present at the Saudi Pavilion participating in the festival, which was led by the Film Commission, to shine a light on its Film Sector Financing Program, an initiative aimed at developing the sector’s value chain activities by offering comprehensive financial packages to fulfil the needs of local and foreign companies involved in creating, producing and distributing film and TV series content in the Kingdom. The program also offers companies and investment funds the chance to invest in the promising Saudi film sector and contribute to its development.
This comes as part of ongoing efforts to attract filmmakers and incentivize investment in the sector by the Cultural Development Fund, which seeks to play a leading role in sync with other entities in the Kingdom’s film ecosystem to develop a sustainable sector and strengthen its economic impact on the national GDP.
The Cultural Development Fund was founded in 2021 with the aim of further enhancing the cultural landscape within Saudi Arabia. Organizationally linked to the National Development Fund, to promote the development of a self-reliant cultural sector. The Fund actively supports a variety of cultural activities and projects, facilitates investment, and seeks to improve the domestic cultural sector's profitability in alignment with the National Culture Strategy and Saudi Vision 2030.
