The Cultural Development Fund (CDF), the key financial supporter of the cultural sector in Saudi Arabia, announced on Friday its sponsorship of the Red Sea Souk during the fourth edition of the Red Sea International Film Festival (RSIFF), taking place in Jeddah from December 5 to 14.
In a statement, the CDF said it is dedicated to activating the 16 cultural sub-sectors outlined in the Kingdom’s National Culture Strategy, including film. For three consecutive years, the Fund has proudly sponsored the Saudi film sector, reflecting its commitment to enhancing the quality of life and contributing to the economy in Saudi Arabia through its ESG investment strategy and programs that empower creators and provide Cultural Financing for businesses.
The Red Sea Souk, a thriving hub for filmmakers and industry professionals, provides a unique platform for creativity, collaboration, and exchange within the film industry.
As part of its sponsorship, the CDF will actively participate in the RSIFF, engaging in various activities. This includes having its own pavilion at the Red Sea Souk, communicating with filmmakers, hosting a private networking reception for top local and international filmmakers and companies, and participating in networking sessions and workshops within the RSIFF programs.
The CDF will exchange knowledge and expertise on the needs of the Saudi film sector, highlighting funding solutions ranging from enablement services to financial services, such as the first-of-its-kind Cultural Financing.
The fourth edition of the RSIFF will be held in Al-Balad, a UNESCO World Heritage site in Jeddah, celebrating the region's cultural heritage while spotlighting the future of film in Saudi Arabia. Under the theme of "The New Home of Film," the festival continues to attract global talent, audiences, and industry leaders.
Shivani Pandya Malhotra, Managing Director at the RSIFF, emphasized the importance of this partnership, saying: “By collaborating with the Cultural Development Fund, we are strengthening the foundation for cultural and creative industries in the Kingdom. The Red Sea Souk is a pivotal platform for emerging and established filmmakers, and CDF’s involvement underscores the shared vision of empowering talents and shaping the future of cinema in Saudi Arabia and beyond.”
CEO of the CDF Majed bin Abdulmohsen Al-Hugail said: “We are proud of our partnership with the Red Sea International Film Festival, with which we share a vision for developing the landscape of the film industry and enhancing the global visibility of Saudi cinema, benefiting both the Kingdom’s economy and society as a whole. We believe in the importance of collaborative effort as we continue to build strategic partnerships with key players in the government, private, and non-profit sectors.”
“To date, the CDF’s financial support of the film industry has exceeded SAR240 million for numerous businesses across the film value chain. This investment has significantly contributed to the prosperity of the film sector, created jobs for local talent, and positively impacted the economy as a whole,” he added.
“As we look to the future, we are committed to investing in the cultural sector, in which film plays a vital role, ensuring it thrives both locally and globally,” he stressed.
The sponsorship reaffirms CDF's commitment to advancing cultural initiatives in Saudi Arabia, nurturing the growth of local talent, and positioning the Kingdom as a global destination for creative industries.
