Ithra Joins Cultural Investment Conference in Saudi Arabia

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

Signing of Key Partnerships

During the conference, Ithra signed two memoranda of understanding (MoUs) with the Cinema Association and Dammam Airports. These agreements aim to directly support the Kingdom’s cultural and artistic activities while emphasizing Ithra’s role in promoting arts regionally and globally.

Expanding Collaboration and Opportunities

Noura Alzamil, Head of Ithra Programs, highlighted that these partnerships extend collaboration with key organizations across various sectors. She emphasized that Ithra’s resources and expertise empower young talents, helping them develop the skills and knowledge needed for success in the 21st century.

Driving Cultural Initiatives

Alzamil added that Ithra’s involvement in the conference continues its journey of exploring cultural opportunities at local and international forums. The center aims to launch bold initiatives that generate meaningful outcomes and support sustainable cultural development within Saudi Arabia.

Focus on Film and Cinema

The MoU with the Cinema Association is designed to strengthen the Kingdom’s film industry. It also includes hosting the Saudi Film Festival at Ithra’s headquarters in Dhahran, promoting cinematic arts and engaging local audiences with high-quality cultural experiences.

Enhancing Airport Experiences

The agreement with Dammam Airports will incorporate artistic and cultural elements into the passenger experience. This initiative is intended to reflect Saudi identity, promote cultural exchange, and enhance the aesthetic and social value of travel spaces.

Cultural Investment and Leadership

During a session titled “Documenting Impact and Leadership,” Ithra Director Abdullah Alrashid emphasized the center’s role as a cultural investor focusing on human capital and talent development. He explained that Ithra prioritizes positive social and cultural impact over purely financial returns.

Supporting Early-Stage Projects

Alrashid cited Ithra’s support for early-stage projects with high social value. He mentioned the Tanween Challenges, where designers develop innovative solutions for global issues, and highlighted that many of these initiatives have been successfully implemented with Ithra’s backing.

Ithra Content Initiative

The Ithra Content Initiative, conducted in partnership with the Cultural Development Fund, guides applicants through multiple phases to launch their projects. In the past three years, this initiative has created over 600 jobs and supported more than 50 startups, combining cultural impact with financial sustainability.

At the conclusion of the conference, all partners and sponsors, including Ithra, were recognized for their contributions to the event’s success. The conference brought together investors, policymakers, cultural leaders, and creatives, highlighting culture as a valuable investment opportunity.

The Cultural Investment Conference emphasized the role of strategic partnerships and innovative financing models in enhancing cultural capital. It showcased how culture supports economic growth, strengthens national identity, and increases global influence, positioning Saudi Arabia as a hub for creative investment.