The Saudi Film Commission has increased its film incentive to 60% as in an update of the cash rebate scheme first launched in 2021 as the country attempted to kickstart a film industry following the lifting of a 35-year cinema ban in 2017.
The update, which was announced during a presentation at Cannes Film Festival, also includes mechanisms to streamline and speedup the application and reimbursement processes.
The increase in the rebate comes amid a reset for Saudi Arabia’s film industry, following a poor showing at the box office, at home and internationally, for early flagship production Desert Warrior, while other ambitious projects such as the Neom film and media hub has been reduced in scale.
The country’s efforts to become an international shooting destination are being hampered in the short-term by fallout from the Iran-U.S. war which has seen the former launch missile and drone strikes on its Gulf neighbors.
The message from the Saudi Film Commission, one of 11 sector-specific commissions under the Saudi Ministry of Culture, is that the country is pushing on with the cinema drive.
“The announcement represents an extension of the Kingdom’s vision to build a sustainable film sector rooted in empowerment and partnership,” said Abdullah bin Nasser Al-Qahtani, CEO of the Saudi Film Commission
“Over the past period, we have worked on developing a number of regulatory and operational aspects related to the incentives program, most notably the launch of the financial audit and disbursement procedures guide, with the aim of improving implementation efficiency and providing filmmakers with greater clarity. “
‘Through the program, 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.”
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