The Cultural Development Fund Highlights the Importance of Enabling the Kingdom's film Sector through Participation in International Red Sea Film Festival

JEDDAH, Saudi Arabia, Dec. 6, 2022 /PRNewswire/ -- For 10 days, the Red Sea's foremost city is the place to be for filmmakers, stars, and film pioneers from across the globe as the 2nd International Red Sea Film Festival organized by the Red Sea Film Festival Foundation takes place in Jeddah, with Saudi Arabia's Cultural Development Fund (CDF) serving as the official partner of the festival.

Held under the theme Film is Everything from 1 - 10 December, the festival is an unrivaled large-scale event where film pioneers come together to celebrate audiovisual experiences that meld the real with the imagined. The who's who of Arab and international filmmakers, producers, and experts are in the city to showcase their film roles and productions that continue to touch the hearts of fans all over the world.

Through its participation at the event, the CDF aims to familiarize visitors with its many initiatives and role as a facilitator of financing and other services. The fund serves as a key enabler and major financier of the Kingdom's film industry, and remains committed to ensuring its sustainability as a vigorous, bustling cultural sector to contribute to national income and increase local content.

Furthermore, the festival presents the perfect opportunity to explore investment opportunities in the film sector and related industries, as well as other cultural and culture-related sectors in Saudi Arabia.

Najla AlNomair, Chief Strategy and Business Development Officer at CDF, underlined the fund's role in bolstering the sustainability of the Kingdom's cultural sector: "The Fund is leveraging its presence at the festival to build solid partnerships with leading cultural figures and industry enablers and start programs and initiatives designed to help creatives," she said. "One of these programs, the Film Sector Financing Program, earmarks SAR 879 million to support local filmmakers and is a key component of the CDF's strategy to develop the local film industry. We are proud to support local creatives as they share their passion, stories, and creative work with the world's top filmmakers and present stories that inspire and enthrall."

The CDF's pavilion at the Red Sea Souk, a film market running alongside the public festival, is hosting a series of discussions and dialogs with attendees throughout the festival that highlight its role in empowering the Saudi film industry. Participants have the opportunity to learn more about CDF's products and programs that cultural sector workers can leverage for their projects, work, and investment ideas.

The International Red Sea Film Festival is an unmissable opportunity for individuals and private companies operating in the Saudi film industry, as well as international companies and non-profit organizations, to reach out and engage with the world's top filmmakers. The event provides a unique platform for discussing possible joint projects that can build the reputation and portfolio of Saudi Arabia's growing local film industry, contribute to the growth of the cultural sector as a component of the non-petroleum side of the national economy, and boost the Kingdom's drive to become one of the world's biggest, fastest-growing, and most diverse economies.

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