A 35% rebate or even higher for all international productions and 50% funding for all Saudi talent hired on such productions was announced by Ahmad Al-Maziad, CEO of the General Culture Authority, on the sidelines of the 71st edition of Cannes Film Festival last week.
Saudi Arabia will offer stiff competition to twofour54 Abu Dhabi with its announcement of a number of new incentives designed to attract international film productions to the Kingdom. A 35% rebate or even higher for all international productions and 50% funding for all Saudi talent hired on such productions was announced by Ahmad Al-Maziad, CEO of the General Culture Authority, on the sidelines of the 71st edition of Cannes Film Festival last week.
Were developing guidelines on how to get even higher than 35 per cent. That will be for all spend consumed in Saudi Arabia, commented Maziad at a press conference held at the Carlton Hotel, adding that the General Culture Authority will fund 50% of all money spent on Saudi talent.
With the rebates, Saudi Arabia hopes to attract international productions while also developing the Kingdoms own talent pool. Maziad added that once the Kingdom attracts more productions, other related services and further infrastructural developments will also evolve.
More details will be shared on the General Culture Authoritys website within the next few weeks, including the criteria, guidelines for application and other issues. It will also develop training programmes, in conjunction with the University of Southern California, the Studio School and Film Independent in the United States, and La Femis and Les Gobelins in France.
A report from Arab News adds that a number of training programmes and multi-week summer camps will take place in Saudi Arabia, Los Angeles and Paris through education partners, covering the full spectrum of skills required for film production, including directing, editing, screenwriting, sound design, VR/AR and 2D/3D animation.
The report added that Maziad has announced a national grant programme aimed at developing Saudi talent to help them produce movies in Saudi.
The programme will be open to KSA nationals who produce or post-produce content in the Kingdom and meet eligibility criteria, the details of which will be shared shortly on our website, Maziad said, adding that more guidelines and criteria will be announced in the coming weeks.