Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

Maisonnave told Al-Eqtisadiah during the opening ceremony of La Fabrique that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades. AL-EQTISADIAH.
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Updated 25 January 2026
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Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.

Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.

He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.

La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh. 

Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.

Launching La Fabrique as a space dedicated to artistic creativity

The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally. 

He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.

Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.

Saudi Arabia benefiting from French experience in the cultural field

Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.

This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.

He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.

La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.


Closing Bell: Saudi main index gains 135 points to close at 11,268 

Updated 25 January 2026
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Closing Bell: Saudi main index gains 135 points to close at 11,268 

RIYADH: Saudi Arabia’s Tadawul All Share Index opened the week on a positive note, gaining 134.90 points, or 1.21 percent, to close at 11,268.48. 

The total trading turnover of the benchmark index stood at SR4.77 billion ($1.27 billion), with 202 listed stocks advancing and 61 declining. 

The Kingdom’s parallel market Nomu also gained 99.47 points to close at 23,612.74. 

The MSCI Tadawul Index advanced 1.44 percent to 1,517.57. 

The best-performing stock on the main market was Saudi Tadawul Group Holding Co., whose share price rose 9.97 percent to SR161. 

Makkah Construction and Development Co.’s share price increased 9.91 percent to SR87.65. 

Dar Alarkan Real Estate Development Co. also saw its stock climb 8.32 percent to SR19. 

Conversely, East Pipes Integrated Co. for Industry saw its share price decline 2.38 percent to SR126.90. 

On the announcements front, ACWA Power said its board of directors recommended the buyback of 1.19 million shares, which will be held as treasury shares and subsequently granted to eligible employees under the long-term incentive scheme 

In a Tadawul statement, the Saudi utility company said the buyback will be financed through internal resources. 

The company added that treasury shares currently account for 0.11 percent of its total outstanding shares. 

ACWA Power’s share price rose 1.22 percent to SR181.90. 

Saudi Arabian Mining Co., also known as Maaden, said it completed the issuance of $1 billion in US dollar-denominated sukuk, offered to qualified investors inside and outside Saudi Arabia. 

The trust certificates have a par value of $200,000 and offer a return of 5.25 percent, with a maturity of 10 years, according to a Tadawul statement. 

The trust certificates will be listed on the London Stock Exchange’s International Securities Market and may be sold in reliance on Regulation S and Rule 144A under the US Securities Act of 1933, as amended. 

Maaden’s share price increased 7.18 percent to SR77.65.