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Saudi Arabia launches investment fund for sports, entertainment events

Crown Prince Mohammed bin Salman’s aggressive modernization plans have been criticized for being overly ambitious.
Saudi Arabian Crown Prince Mohammed bin Salman (C) and Formula One Group CEO Stefano Domenicali (R).

Saudi Crown Prince Mohammed bin Salman launched Tuesday a new investment fund to support infrastructure related to sports, tourism and more. 

The Events Investment Fund will “develop a sustainable infrastructure” for the culture, tourism, entertainment and sports sectors throughout Saudi Arabia. The fund set a goal of financing and developing more than 35 venues by 2030 and will develop the following infrastructure, the official Saudi Press Agency reported:

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