https://arab.news/mrvte
- Deals to establish Formula 4 academies in Saudi Arabia and build infrastructure for motor racing circuits
RIYADH: Saudi Arabia’s Minister of Investment Khalid Al-Falih was present as 14 agreements were signed during Formula One’s Saudi Arabian Grand Prix to help develop sports and entertainment sectors in the Kingdom.
The Ministry of Investment is looking to support Saudi Vision 2030, increase public participation in sports, and sponsor talent development paths.
The agreements support the sports sector, and include qualitative projects, events, academies and medical clinics.
The deals also look to establish Formula 4 academies in Saudi Arabia and build infrastructure projects for motor racing circuits and training circuits for professionals, in addition to supporting investors in the field of sports studies and consulting.
The ministry highlights all investment opportunities in the Kingdom through its Invest Saudi platform, and allows investors to identify promising opportunities in each sector.