In order to advance the Kingdom’s sports and entertainment industries, the Saudi Ministry of Investment inked 14 investment agreements during the Saudi Grand Prix of the Formula 1 World Championship.
The agreements “contribute to supporting the sports sector, which includes motorsports, clubs, sports centers, quality sports projects, sports, electronic games, and arranging events, in addition to sports medical academies and clinics,” the Saudi Press Agency (SPA) said.
The completion of infrastructure projects for auto racing circuits, the establishment of new infrastructure for professional motorsports qualification, the establishment of Formula 4 academies in the Kingdom, and the management of recreational sports events are among the agreements in the sports sector.
supporting and implementing the goals of investors in a particular sport, as well as assisting investors in the field of sports studies and consultations.
Virtual reality technology, cities, and recreational parks were all covered by the agreements in the entertainment industry as they support investment plans and the development of high-quality projects that improve the sector’s standing, the investor’s entry into the Saudi market, and the expansion of city design, construction, and operation.
