Saudi Arabia invests $38bn to establish local gaming industry

Saudi Arabia has pledged to invest $3.8 billion to develop a thriving gaming industry within the country. This move is part of the country's wider efforts to diversify its economy and reduce its reliance on oil.

The Saudi Arabian General Investment Authority (SAGIA) announced the investment plan, which aims to create a gaming industry capable of generating $3 billion in revenue by 2030. The funds will be used to establish a range of initiatives, including the creation of a gaming academy to train local talent, as well as a dedicated gaming conference and a new gaming studio.

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The Saudi Arabian government hopes that the investment will help to stimulate economic growth and create new job opportunities, particularly for young people. The gaming industry is one of the fastest-growing sectors in the world, and Saudi Arabia believes that it has the potential to become a major player in the industry.

In recent years, the country has taken steps to establish itself as a hub for tech startups and innovation, and the development of a thriving gaming industry is seen as a key component of this strategy.

The investment in the gaming industry is also part of Saudi Arabia's Vision 2030 plan, which aims to modernize and diversify the country's economy. The plan includes a range of initiatives designed to promote economic growth, including the development of new industries, the improvement of infrastructure, and the creation of new job opportunities.

Overall, the investment in the gaming industry is a significant move for Saudi Arabia and one that could have far-reaching consequences for the country's economy and its role in the global gaming industry.

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