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Saudi Arabia to invest $64bn in western style entertainment

Saudi Arabia says it will invest $64bn (£46bn) in developing its entertainment industry over the next decade.

Long known for its ultra-conservative mores, the kingdom has embarked on a wide-ranging programme of social and economic reforms driven by Crown Prince Mohammed bin Salman.

“We are already building the infrastructure,” Khatib said, adding that ground had been broken for an opera house.

Entertainment Authority (GEA) chief Ahmad bin Aqeel al-Khatib said hundreds of new companies have sprung up over the past year, registering for licences to take advantage of the budding sector.

“God willing, you will see a real change by 2020,” the entertainment chief said, adding that more than 5,000 events were planned for the coming year.

The head of the General Entertainment Authority said 5,000 events were planned this year alone, including those by Maroon 5 and Cirque du Soleil.

Authorities have also announced plans to lift a decades-old ban on cinemas this year, with some 300 expected to open by 2030.

Senior GEA official Faisal Bafrat said the past year had already seen exceptional development in the entertainment sector with more than 2,000 events involving 100,000 volunteers and 150 small and medium businesses organised in 2017.

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