LONDON: The Arab-British Chamber of Commerce (ABCC) hosted a roundtable meeting on the development of the sports, media and entertainment sectors in all Arab states, particularly Saudi Arabia, and benefiting from the experiences of developed countries in this regard.
The meeting also discussed the impact of the media and technological progress on the sports and leisure industries; investment in sports; the management of clubs, federations and sports cities; and the social responsibility of sports businesses.
The meeting also touched on partnership between the public and private sectors in sports and entertainment.
Participants concluded that relevant government institutions should focus on developing necessary legislation, creating markets and job opportunities, and strategic planning for the medium and long terms.
They also noted the importance of supporting the private sector, especially small and medium enterprises, to work and invest in the sports, culture, hospitality and media sectors due to their great impact on development, creating jobs and supporting the economy.
Participants praised the Saudi Vision 2030 reform plan, driven by Crown Prince Mohammed bin Salman, which aims to diversify and develop the Kingdom’s economy at all levels, including increasing the number of tourists.
The hosting of continental and international sporting events by Saudi Arabia, Bahrain, the UAE, Egypt and Morocco has great economic value, they said.
Participants stressed the importance of the human, cultural and legal dimensions of sports and entertainment programs.
The ABCC’s secretary-general and executive chairman, Bandar bin Ali Riza, said the meeting was a major preparatory stage for the organization of an Arab-British conference on the sports, entertainment and hospitality industries as important economic sectors.
He stressed the importance of strengthening relations between Arab countries and the UK by exchanging experiences in all fields of trade and the economy.
He also stressed the importance of benefiting from the experiences of the UK as one of the world’s leading countries in the fields of sports, entertainment, tourism, services and economic management.
The head of development and international relations at the International Association of Sports Law, Majed Garoub, noted the importance of the huge investments in Saudi Arabia.
He urged British and international companies to participate in these projects, share their expertise, and partner with Saudi and international companies so all parties benefit.