Big relief for Indian film producers – Saudi | Indian Movie News
The Saudi Film Commission has raised its money rebate programme from 40% to up to 60% of eligible expenditures, making it one of the most aggressive film manufacturing incentives in the world. The announcement was made by CEO Abdullah bin Nasser Al-Qahtani at the Marché du Film during the 79th Cannes Film Festival.
The update goes past the headline charge increase. It also introduces accelerated disbursement processes, enhanced money movement effectivity for manufacturing firms, and a new model for managing and distributing incentives, developed in partnership with the Cultural Development Fund.
Speaking to Variety, Al-Qahtani said, “Today’s announcement was not just that we are raising the rebate to 60%. We want to be not just the most generous incentive, but also the most agile one.”
In a formal assertion, he added, “We are focused on developing an integrated ecosystem that enables filmmakers to work with confidence, empowers the private sector, and attracts quality investments that contribute to transferring expertise and knowledge to local talent.”
Cultural Development Fund CEO Majed bin Abdulmohsen Al-Hugail said, “Today, the speed and clarity of procedures have become key factors shaping production and investment decisions in the global film industry. Through this programme, we aim to provide a more efficient and flexible experience that meets the needs of projects at various stages and strengthens the Kingdom’s position as a reliable partner for international productions.”
Saudi Arabia’s money rebate programme was first launched in 2021, following the reopening of cinemas in the Kingdom in 2017 after a 35-12 months ban.
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Big relief for Indian film producers – Saudi | Watch Online Free
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