US Firm Gets First Licence To Operate Cinemas In Saudi Arabia
The Saudi Arabia Ministry of Culture and Information on Wednesday said it had given US-based firm, AMC, the first licence to operate cinemas in the kingdom.
Saudi Arabia’s Minister of Culture and Information, Awwad Alawwad, said in a statement that the firm plans to open Saudi Arabia’s first cinema theatre in the capital Riyadh on April 18.
Alawwad added: “The granting of the first licence marked the opening of very significant opportunities for exhibitors.”
Alawwad added that the Saudi market was large, with majority of the population under the age of 30 and eager to watch their favourite films at home.
In December, Saudi authorities announced the re-opening of cinemas in the country, lifting a 35-year-old ban.
The move was part of the kingdom’s Vision 2030 plan, launched by Saudi Arabia’s Crown Prince Muhammad bin Salman in a bid to open up the country for investors and to diversify the kingdom’s economy.
According to the culture minister’s statement, Saudi Arabia expects to have nearly 350 cinemas, with over 2,500 screens by 2030.
The 32-year-old crown prince was believed to be behind the lifting of ban on women driving in the kingdom, a move that would go into effect in June.
Via: NAN.
