Post by : Raman

The King Abdulaziz Center for World Culture (Ithra), an initiative by Aramco, participated as a strategic partner in the first-ever Cultural Investment Conference, held under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, in Riyadh on September 29-30.

During the conference, Ithra signed two memoranda of understanding (MoUs) with the Cinema Association and Dammam Airports. These agreements are set to directly support the Kingdom’s cultural and artistic initiatives, highlighting Ithra’s commitment to fostering regional and global culture while contributing to a knowledge-based economy.

Noura Alzamil, Head of Ithra Programs, said the partnerships aim to expand collaboration across sectors and enrich the Kingdom’s cultural landscape. She emphasized using Ithra’s resources to empower young talent, equipping them with essential skills for the 21st century.

Alzamil added that Ithra’s participation underscores its ongoing engagement in local and international cultural forums. The center continues to present innovative cultural projects and actionable ideas that drive sustainable development and deliver meaningful social impact.

The MoU with the Cinema Association will help develop Saudi Arabia’s film industry and cinematic scene, including hosting the Saudi Film Festival at Ithra’s Dhahran headquarters. The agreement with Dammam Airports focuses on enhancing passenger experiences through cultural and artistic initiatives that reflect Saudi heritage and promote cross-cultural exchange.

In a session on “Documenting Impact and Leadership,” Ithra Director Abdullah Alrashid highlighted the center’s role as a cultural investor prioritizing human capital and talent development. “Unlike financial investors who focus mainly on returns, Ithra emphasizes positive cultural and social impact,” he explained. Alrashid cited the Tanween Challenges, which enable designers to create innovative solutions to global issues, supported by Ithra.

He also highlighted the Ithra Content Initiative, in collaboration with the Cultural Development Fund, which guides applicants through multiple phases to launch their own projects. Over the past three years, this initiative has helped create more than 600 jobs and over 50 successful startups by combining cultural impact with financial sustainability.

The conference concluded by honoring all sponsors and partners, including Ithra, for their contributions to the event’s success. Organized by the Ministry of Culture, the Cultural Investment Conference served as a global platform connecting investors, policymakers, cultural leaders, and creatives. It emphasized culture as a key investment opportunity, showcasing pioneering financing models, strategic partnerships, and the growing influence of cultural capital in economic growth, national identity, and global presence

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