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July 2018
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Rajinikanth Supports 'One India, One Election' Proposal        Trump asked me to sue EU over Brexit, says Theresa May        Haiti prime minister resigns after deadly unrest        Mukesh Ambani beats Alibaba's Jack Ma to become richest man in Asia        Djokovic beats Anderson, wins 4th Wimbledon title        Thailand Open Super 500: PV Sindhu loses to Nozomi Okuhara in final        France clinches World Cup with win over Croatia        H-1B visa alert: Donald Trump makes things worse for Indian techies        World Cup: Belgium beat England 2-0 to finish 3rd        PV Sindhu makes final of Thailand Open, Okuhara awaits        Angelique Kerber defeats Serena Williams to win Wimbledon 2018        Former A.P. Chief Minister Kiran Kumar Reddy returns to Congress        If Delhi tries to break PDP, outcome will be dangerous: Mehbooba Mufti        Former PM Nawaz Sharif, daughter Maryam arrested for corruption in Lahore        Social media hub like creating surveillance state: SC        World Cup: Deflated England, Belgium get ready for third place clash        First time in winter: FIFA confirms 2022 World Cup to be held between November and December in Qatar        Mental strength carried Croatia to World Cup final, says Lovren        Kohli currently best batsman because Smith not there: Ponting        Rupee up 19 paise against dollar ahead of key macro data release        
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Entertainment News
Indywood lauds Saudi Arabia's move to set up cinemas
 
(Dec 19, 2017):Indywood Film Carnival, ambitious project of 10 billion US dollar Project Indywood has lauded Saudi Arabia's move to set up cinemas. Indywood officials announced that it will join hands with Government of Saudi Arabia to establish top-notch cinemas, home cinemas apart from organizing film festivals, talent clubs, and film market expos to accelerate the growth of entertainment sector in the region.

Interestingly, the third edition of Indywood Film Carnival held from December 1 to 4 at Ramoji Film City, Hyderabad, highlighted the significance of setting up cinemas in Saudi Arabia. An announcement was also made on 4th December 2017.


Indywood predicted Saudi move

"We had emphasized the importance of opening up cinemas in Kingdom of Saudi Arabia one week before the official announcement," pointed out Indywood Founder Director Sohan Roy. He added that entertainment is the sunrise sector for the Gulf region and should be utilized it wisely. "Saudi Government's move will give fresh impetus to entertainment sector in the Gulf region and would attract leading players to invest," he said.


Kingdom to benefit

"The opening of cinemas will propel overall growth of the kingdom said Sohan Roy who is also the Chairman and CEO of UAE-based Aries Group and listed as one of the top influential Indian Business leaders in the Arab World by Forbes Middle East..”Saudis currently travel to other countries (United Arab Emirates, Bahrain etc) for entertainment purposes. Once cinemas are open, they will spend their money (for watching movies, shopping and refreshments) in Saudi itself. It will accelerate economic growth of the kingdom and help to generate job opportunities," he said.

"Indywood will take a lead role to utilize the untapped Saudi entertainment market through innovative ventures which will offer world-class entertainment. We will also work out the possibility of movie co-production," he revealed.

Project Indywood aims at initiating 10,000 new 4K projection multiplex screens, 100,000 2K/4K projection home cinemas, 8K/4Kfilm studios, 100 animation/VFX studios and film schools conforming to international standards.

Saudi Arabia lifted a 35-year-old ban on cinemas on 11th December. The first movie theatres are expected to open next March. The government said it is expected to open more than 300 cinemas with more than 2,000 screens by 2030, building an industry that would contribute more than SAR90bn ($24bn) to the economy and create 30,000 permanent jobs.


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INTERNATIONAL NEWS
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