Leading film executives came together to explore opportunities for international collaboration at a Screen International roundtable discussion and networking reception in Cannes, sponsored by Saudi Arabia’s Cultural Development Fund.
Titled ‘Collaborate and invest: shaping the future of the film industry’, this week’s panel and networking lunch attracted a high-powered mix of financiers, lawyers and producers, who discussed strategies for greater international collaboration. It was hosted by Saudi Arabia’s Cultural Development Fund (CDF), which is working to become the kingdom’s “Financial Centre of Excellence” for the culture sector.
The event aligned with the CDF’s broader mission to engage with global filmmakers and unlock opportunities in the Saudi film sector. As the Kingdom’s primary financial enabler for the cultural sector, CDF is working closely with various partners within the Saudi film ecosystem, aims to streamline funding processes, enhance clarity, and expand access for stakeholders across the entire film industry value chain. The framework aims to improve the efficiency of the incentives process, targeting a 60% reduction in processing times for successful applications. Key components include:
- Clear Eligibility Criteria: Clear guidelines for accessing financial support.
- Well-Defined Evaluation Process: Objective assessments for project funding to enhancing decision-making.
- Faster Processing Times: An integrated digital system for submitting, tracking, and managing funding applications.
This new direction reflects CDF’s strategic commitment to accelerating the growth of the Saudi film sector, aligning closely with the Kingdom’s Vision 2030 goals of economic diversification and cultural empowerment. By enhancing the funding infrastructure and fostering a competitive, globally connected film industry, CDF aims to position Saudi Arabia as a leading destination for the film sector.
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