Saudi official: Entertainment sector could create 200,000 jobs, billions in profit

People are seen at Riyadh Park mall during the opening of a cinema, in Riyadh, Saudi Arabia April 30, 2018. (REUTERS)
Updated 02 March 2019

Saudi official: Entertainment sector could create 200,000 jobs, billions in profit

  • The GEA would build new partnerships with private companies, and create seven new entertainment venues in Jeddah, Dammam, Riyadh and the Eastern Province

JEDDAH: The CEO of the General Entertainment Authority (GEA), Amr bin Ahmed Banaja, has claimed that Jeddah is a fertile region for private sphere investment in the leisure and entertainment industries.

“The GEA has sought to provide the necessary infrastructure for developing new entertainment and sports activities,” he told guests at the Jeddah Chamber of Commerce and Industry’s 75th anniversary celebration, stressing that potential entertainment revenues in the city could reach SR 30 billion ($8 billion) and create up to 200,000 jobs by 2030.

He reminded the audience that the GEA was a legislative body, however, and not an executive authority. It would be up to the private sector to create the opportunities for growth.

But, Banaja added, the GEA would build new partnerships with private companies, and create seven new entertainment venues in Jeddah, Dammam, Riyadh and the Eastern Province, to give the companies a platform from which to prosper and expand.


Ivanka Trump applauds Saudi Arabia’s reforms advancing economic role for women

Updated 17 January 2020

Ivanka Trump applauds Saudi Arabia’s reforms advancing economic role for women

  • Saudi women in business have lauded the Vision 2030 strategy for being the key driver in helping them to realize their ambitions

The United States President’s daughter and advisor, Ivanka Trump, praised on Friday Arab states for the progress they have made in their reforms highlighted in a World Bank Report.

“Great seeing some big progress in countries with the most improved scores this year in the World Bank WBL (Women, Business and the Law) report,” she said, referring to several countries mentioned in the report, including Saudi Arabia, the United Arab Emirates, Bahrain, Jordan and Tunisia.

 

The World Bank’s annual “Women, Business, and the Law” report ranked Saudi Arabia top among 190 countries for its progress in bringing about reforms related to female involvement in economic development and entrepreneurship.  

According to the World Bank’s figures for 2020, Saudi Arabia scored 70.6 out of 100 for progress achieved in the integration of women into the labor market. The report’s findings also placed the country first among Gulf states, and second in the Arab world for meeting the criteria.

Saudi women in business have lauded the Vision 2030 strategy for being the key driver in helping them to realize their ambitions.