Eros Media World Announces Association with Ministry of Investment in Kingdom of Saudi Arabia (MISA)
October 26 2022 - 5:14PM
Business Wire
~ The two entities formalized their association
at Future Investment Initiative (FII) being held in Riyadh from
25-27 October 2022 ~
~ Together they will focus on supporting each
other in exploring and creating opportunities in Film &
Entertainment content production ~
Eros Media World PLC ("ErosMedia", "Eros" or the "Company")
(NYSE: EMWP), a global Indian media and entertainment company, has
announced an association with the Ministry of Investment in Kingdom
of Saudi Arabia (“MISA”) to develop investment opportunities and
projects in the region. The two entities formalized their
association at the sixth edition of the Future Investment
Initiative (FII) held in Riyadh from 25-27 October 2022. The event,
established by the FII Institute with Public Investment Fund
(“PIF”) as founding partner has convened the world's foremost CEOs,
policymakers, investors, entrepreneurs, and young leaders to shape
the future of international investment and the global economy with
Ministry of Investment as a Vision Partner and many other global
strategic partners.
As a part of this association, MISA will assist ErosMedia in its
expansion in Saudi Arabia. MISA will also support ErosMedia in
forging local partnerships and engaging with multiple investors.
ErosMedia is committed to developing and producing content,
enabling specialized knowledge transfer, and mounting feature films
and episodic web-series - a full spectrum content ecosystem,
enabled for web 3.0. in the region.
In August this year, ErosMedia announced its foray into the
rapidly growing Saudi Arabian market to identify synergies with
various Saudi Arabian government initiatives designed to foster
growth in the media & entertainment, and technology space under
its Vision 2030. This partnership with MISA will allow ErosMedia to
explore further suitable opportunities to expand and contribute to
the government's vision in the region.
Commenting on the association, Pradeep Dwivedi, Group CEO,
Eros Media World, says, "We are thrilled to partner with the
Ministry of Investment in the Kingdom of Saudi Arabia (MISA) in its
vision to accelerate reforms in the kingdom. We are an over
four-decade-old media company with a global footprint that always
has leveraged technology as an advantage. We have embraced the new
age Web 3 revolution that is poised to alter this industry. He
further adds, "This collaboration will allow us to explore
opportunities in the media and entertainment space, contribute to
the government's vision, help strengthen Eros Media World's
position in the region and create value for our investors and
stakeholders."
The Future Investment Initiative (FII) was announced in
September 2017 by the Public Investment Fund (PIF), Saudi Arabia's
main sovereign wealth fund, in the context of the Saudi Vision 2030
program of economic and social reform. Its goal is to catalyse
positive impact in five focus areas: Education, Healthcare,
Sustainability, Artificial Intelligence and Robotics which is
achieved through working across three pillars – THINK, XCHANGE, ACT
– to empower the brightest minds, create platforms for knowledge
sharing and partnership and invest in real-world solutions that
benefit everyone.
About Eros Media World
Plc
Eros Media World Plc, (“Eros”, the “Company”) (NYSE: EMWP) is a
global media and entertainment company that acquires, co-produces
and distributes films, digital content and music across multiple
formats such as theatrical, television, OTT digital media streaming
and emerging web 3.0 ecosystem to consumers around the world. The
Company also owns the leading South Asian OTT platform Eros Now,
which has rights to over 12,000 films across major Indian
languages. For further information, please visit
www.ErosMediaWorld.com.
About Ministry of Investment in Kingdom
of Saudi Arabia (MISA)
The ongoing transformation of Saudi Arabia under the Vision 2030
plan is unlocking new opportunities at an unprecedented pace. The
Ministry of Investment of Saudi Arabia (MISA) is facilitating
access to these opportunities by developing a vibrant
cross-government investment ecosystem, while supporting businesses
throughout their investment journey.
Through a network of dynamic business centers across the
Kingdom, MISA partners with local and international businesses of
all scales and sizes—from startups to blue chip multinationals—to
help make investing in the Kingdom as streamlined and simple as
possible.
MISA takes a lead role in improving Saudi Arabia’s overall
business environment, commissioning multiple market intelligence
studies every year and developing local opportunities for joint
ventures.
Vision:
To place Saudi Arabia among the top performing markets for
investments.
Mission:
To promote Saudi Arabia as a world-class investment destination,
attract and retain investors, and expand their investments, for the
benefit of a sustainable national economic growth.
Values:
• Trusted & credible
• Impact-oriented
• Partnership
• Committed
For further information, please visit:
https://misa.gov.sa/en/
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version on businesswire.com: https://www.businesswire.com/news/home/20221026006056/en/
For further information: Priyank Dubey
Priyank.dubey@erosintl.com Phone: +919769350650
Eros Media World (NYSE:EMWP)
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