Saudi information minister hands 7th license for local company to operate cinema
March 05, 2019 - Arabnews - JEDDAH: Saudi information minister Turki Al-Shabanah handed the seventh license for operating cinemas to the local company "Next Generation", which will be known by the name “Muvi” and will be the first Saudi trademark.
The step was carried out in the presence Chairman of the General Authority for Audiovisual Media Badr bin Hussein Al-Zahrani.
“The authority will be providing all facilities to local companies seeking to open cinemas, as it has re-engineered the procedures and reduced requirements for licensing,” the minister said.
On his part, Al-Zahrani has stressed that efforts are being made to continue to develop all types of activities related to the audiovisual sector, including cinema, to ensure the providing of quality services to national companies and investors in line with the Vision 2030 which is aimed at diversifying the national economy and increasing employment opportunities for Saudi citizens.
The “Next Generation” company is part of Fawaz Al-Hakeer Group and is seeking to open its first cinema in collaboration with foreign operator “The Light” at Arab Mall in Jeddah.
It aims to open six cinema theaters that include 50 screens in Riyadh, Jeddah, and the Eastern Region during 2019.