Majid Al Futtaim CEO to Asharq Al-Awsat: Each Month One Cinema Theater Opens in Saudi Arabia
Reform carried out by Saudi Arabia in light with its Vision 2030 are transforming into job opportunities in the Kingdom and abroad, said Chief Executive Officer at Majid Al Futtaim Group Alain Bejjani.
Speaking to Asharq Al-Awsat few hours before a reception hosted by Majid Al Futtaim for participants at the 17th meeting of the World Economic Forum on the Middle East and North Africa, Bejjani talked about the importance of the private sector in keeping up with the developments of the fourth Industrial Revolution.
He also mentioned the projects supervised by Majid Al Futtaim in Saudi Arabia in line with Vision 2030.
“Saudi Arabia is significant to us as a company, and our commitment to it has been ongoing for a decade now.”
“We have a number of leading businesses in Saudi Arabia, including Carrefour and Vox Cinema,” he noted.
Vox Cinema, which is managed by Majid Al Futtaim and is considered a pioneer in the Middle East, has been inaugurating about one theater every month in the Kingdom since January, Bejjani explained.
This is part of Futtaim’s plan to inaugurate 600 cinema theaters across Saudi Arabia within five years.
“The cinema industry is very important in terms of creating jobs, encouraging local content production and fostering creativity in Saudi Arabia and across the region,” Bejjani said, adding that it also delivers content produced regionally in Saudi Arabia.
Tackling Vision 2030’s reforms, Bejjani said they allowed solving the problems facing businesses in Saudi Arabia, describing them as “unique” and turning into opportunities for the business community.
“Over the past three years, we have witnessed a remarkable commitment to achieving the Vision in a number of important sectors,” he stressed, citing women’s leadership and the inauguration of cinemas.
“We are proud to be entrepreneurs for Saudi women and men and part of the founders of the film industry in the Kingdom.”
Bejjani co-chairs this year’s World Economic Forum’s meeting along with CEO of Bahrain Economic Development Board Khalid al-Rumaihi, UAE Minister of Climate Change and Environment Thani Ahmed al-Zeyoudi, Egypt’s Minister of Tourism Rania al-Mashat, President of King Abdullah University of Science and Technology (KAUST) Tony Chan, President of London-based European Bank for Reconstruction and Development (EBRD) Sumantra Chakrabarti, MENA Policy Counsel in Access Now Wafa Ben-Hassine and Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag.
“We consider the World Economic Forum to be the most important international platform for a serious and strategic dialogue between the private and public sectors,” stressed Bejjani.
Under the theme “Building New Platforms of Cooperation”, the meeting focuses on four transformation imperatives, which are shaping a new economic and social model for the region, environmental stewardship in the Arab world, finding common ground in a multi-conceptual world and the Fourth Industrial Revolution in the Arab world.
Bejjani said challenges facing the region require regional cooperation, stressing the importance of free trade across the Middle East and North Africa.