Riyadh: The Ministry of Investment signed a memorandum of understanding (MoU) with the Cultural Development Fund to explore areas of cooperation in cultural investment and attract international companies to the Saudi cultural sector. The signing took place during the Cultural Investment Conference, organized by the Ministry of Culture at the King Fahd Cultural Center in Riyadh.

According to Saudi Press Agency, the MoU aims to strengthen the partnership between the two sides in exploring investment opportunities and developing initiatives that contribute to attracting leading international companies to operate in cultural sectors. This will enhance the competitiveness of the cultural sector and increase its contribution to the national economy.

The signing of the memorandum aligns with the Cultural Development Fund’s role as a center of excellence and financial empowerment, complementing joint efforts to create an attractive and supportive cultural investment environment. It will open new horizons for local and international investors, supporting the objectives of Saudi Vision 2030, which aims to make culture both an economic driver and a pillar of sustainable development.