Saudi Crown Prince Mohammed bin Salman unveiled the “Savi” group’s electronic game strategy today, Thursday, and it is connected to the Saudi Public Investment Fund.
The group “represents a key component of our ambitious strategy to transform the Kingdom of Saudi Arabia into a global centre for the gaming and esports sector by 2030,” according to Prince Mohammed bin Salman, who also serves as the chair of the Savi board of directors, as quoted by the Saudi Press Agency (SPA).
”
Added he, “To diversify the sources of our economy, advance innovation within the industry, and improve the quality of entertainment events and competitions in the e-sports space provided by the Kingdom, we strive to take advantage of the great potential of the sports and electronic games sector.
”
According to the agency, the main goals of the Savi Group’s strategy are to foster growth by making investments in the gaming and e-sports industries, creating a long-term investment plan, effectively using capital within the industry, presenting opportunities for participation, and strengthening partnerships in the electronic games industry, in addition to enhancing the player experience.
The Savi Group will invest in programmes and infrastructure at the local and global levels to provide training, education, and entrepreneurship opportunities as well as to attract foreign companies to Saudi Arabia through investments and partnerships that It will contribute to providing skills, transferring knowledge, and fostering entrepreneurship, she said, adding that the launch of the strategy comes to enable and support the recently announced national strategy for games and e-sports.
She continued by saying that the Kingdom will also endeavour to establish 250 electronic gaming companies, creating 39,000 employment and increasing the sector’s contribution to the GDP to 50 billion riyals by 2030.
As the group will lead global investments in the field of games and e-sports, which will generate a sustainable return that enables the developers in the entire sector, she stated that the group’s investments are based on four main pillars: enhancing returns and local impact, leaving a global footprint, and expanding.
On the other side, the group will help The Kingdom draw in talent and expertise while utilising its enviable location to establish The Kingdom as a major hub for the gaming and e-sports industries.
She stated that the plan calls for investing 142 billion Saudi riyals in four programmes that cover a variety of investments and acquisitions, including the purchase of a minority stake in a number of significant companies that will support the group’s e-sports plans and the acquisition of one of the best game publishing and development companies.
In order to develop games and e-sports, as well as to participate in respected industry firms whose aims are consistent with the group’s strategy, numerous investments are being made in innovative, up-and-coming enterprises.
Five businesses connected to the “Savi” group of video games will carry out this approach, according to the agency, and each of them has a unique business plan and different industry-specific strategic goals.
She mentioned that the organisation contains the first international game studio to be established in Saudi Arabia, which will in turn offer a variety of worthwhile games to viewers around the world.
To bring games and studios under the company’s tent, specialised work teams will be developed with an emphasis on medium- and large-scale games. These teams will look to take advantage of acquisition prospects in the Kingdom and other markets.
She described the group’s strategy, which included creating a “Savi” fund for games to invest in top worldwide publishers and game developers and to make it possible for regional headquarters to be established in the Kingdom. .
The Saudi Crown Prince presents the “Savi” approach to video gaming.
About Author
