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American film star Katie Holmes and British actor-cum-director Idris Elba rubbed shoulders with Saudi officials, as the conservative kingdom on Thursday night kicked off an initiative to invest SR130 billion ($34.7 billion) in culture and leisure by 2020.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…
122 Views | the publication reaches you by | Saudi Arabia TodayKey projects include 16 entertainment complexes, an aquatic centre and three other huge leisure hubs — all part of a bid to ensure three Saudi cities make it into the global top 100 for quality of life.
The project, dubbed “Quality of Life Program 2020,” is in part designed to encourage wealthy young citizens to spend more of their leisure time in the kingdom, where more than half the population is below the age of 25.
“It will contribute to the satisfaction of Saudis and incentivise them to invest in their country and to stay,” said Ahmad Khatib, head of the oil-rich state’s entertainment policy.
The government will pump 50.9 billion riyals into this cultural revolution, while courting private investors and foreign partners for the rest of the investment.
“Saudi Arabia gave me an opportunity to make my film here, it made sense on an economical model,” British actor Elba, who made his name as a gangster in the gritty American police series The Wire, told AFP at the event.
“I would definitely be here – why not?” added the Londoner, who has in more recent years turned his hand to directing and has a Twitter following of more than 2.5 million.
The investment programme feeds into a drive by powerful Crown Prince Mohammed bin Salman to modernise his homeland, both in terms of liberalising Saudi society and reducing the economy’s overwhelming dependence on oil.
The initiative aims to create 300,000 new jobs and represents a key pillar of the nation’s “Vision 2030” reforms.
The project for the design, engineering and procurement of the new 400,000m3/day Jubail II seawater reverse osmosis (SWRO)…
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
