7 hours agoSaudi Arabia opens first cinema after 35 years of ban
Periskopi(8 years ago)
(8 years ago)America as the largest film theatre company has brought the white screen to Saudi Arabia. The AMC said on Wednesday that the first cinema operation license by the Saudi Arabia Ministry of Culture has been issued to end a 35-year ban. A range of the United States has signed an agreement [...]
The AMC said on Wednesday that the first cinema operation license by the Saudi Arabia Ministry of Culture has been issued to end a 35-year ban.
A range of the United States has signed an agreement with the Saudi government to open 30 cinemas throughout the kingdom over the next five years, the company's statement said.
The first AMC film cinema will open in the capital of Saudi Arabia, Riyadh on 18 April.
The AMC, which is owned by Chinese property and entertainment conglomerate Dalian Wanda Group, is likely to win the tender by competing with regional cinema operators, reports “CNN” Transmission Periscope.
Vox Cinemas and Novo Cinemas, together, have their bases in the United Arab Emirates, which are interested in extending business to new borders.
The Saudi Arabia cinema industry is meant to increase about $1 billion over the coming years, the AMC said.
Saudi Arabia is undergoing an economic restructuring under the 2030-euro vision a plan for diversification of the economy over the next decade and reducing the country's support for oil.
The government is investing billions in the entertainment sector, hoping this could be a catalyst for economic growth, creation of new jobs and investment opportunities.
The Saudi government wants its citizens to spend more on entertainment and tourism within the country, said Ahmed Al Khateeb, chairman of the Saudi Arabia General Entertainment Authority, in an interview with Richard Queen of “CNNMoney” on Wednesday.
Al Khateeb said Saudis spend about $20 billion a year abroad on entertainment and tourism./Periscopi/
