RIYADH: Events firm Informa and the Saudi Federation for Cybersecurity, Programming and Drones have agreed to form a joint venture company to boost the Kingdom’s entertainment sector and create jobs for the nation’s youth.
Officials announced that Tahaluf, meaning ‘Alliance’, will become a global trademark designed to create a vast chain of events that accommodate Saudi Arabia’s key sectors, such as beauty, real estate, technology, AI, food, pharmaceutical services, and healthcare.
Tahaluf plans to employ approximately 200 people in the coming 5 years. In addition, the organization will manage events that will attract around 500,000 visitors every year by the end of the decade.
“Saudi Arabia has hosted an expanding portfolio of global events in recent years, and now, through Tahaluf, SAFCSP is investing to further elevate the Saudi events industry and related creative and digital sectors,” said Faisal Al-Khamisi, chairman of SAFCS.
Tahaluf is expected to launch and commence trading on Jan. 1 2023, and is in line with Saudi Arabia’s goal of diversifying its economy in line with the implementation of Vision 2030.
Al-Khamisi added: “Tahaluf will be a significant contribution to SAFCSP’s mission of supporting skills development and creating career opportunities for Saudi youth in dynamic, professional sectors and will also contribute to the overall diversification and modernisation of key industries in Saudi Arabia.”