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  • 18-01-23

    Saudi Arabia’s crown prince starts Events Investment to grow all sectors in Kingdom

    (MENAFN) Saudi Arabia’s Crown Prince Mohammed bin Salman has declared the start of the Events Investment Fund (EIF), an investment that targets to improve a maintainable infrastructure for the culture, tourism, entertainment, in addition to sports industries through the Kingdom, as reported by the Saudi Press Agency.

    The EIF targets to establish tactical cooperation to surge the domestic industry as well as increase foreign investment. It is going to conceptualize, finance, and witness the improvement of over 35 venues within the end of this decade, according to a report recently issued by the state news agency.

    The fund is going to concentrate on improving and boosting direct foreign investment prospects for a constitution of SR28 billion (nearly USD 7.45 billion) to the nation’s gross domestic product by 2045.

    The establishment of EIF targets at locating the nation as the international center of cultural, tourism, entertainment, as well as sports actions.

    MENAFN18012023000045014228ID1105443313

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