EIF seeks public opinion on Investment Fund Law

The Events Investment Fund (EIF) is seeking public consultation on the proposed Investment Fund Law for events related to culture, entertainment, sports and tourism sectors through the Istitlaa platform until Dec. 20. 

The draft law aims to align the EIF’s strategic objectives by focusing on developing a sustainable infrastructure that adheres to the highest international standards and fosters growth in the sectors of culture, entertainment, sports and tourism. 

Article 2 of the Investment Fund Law states that the EIF shall be an independent legal personality with financial and administrative autonomy. The fund will be organizationally linked to the National Development Fund (NDF) and will establish its headquarters in Riyadh. Additionally, the EIF may establish branches and offices within the Kingdom or abroad as deemed necessary. 

In January, Prince Mohammed bin Salman, Crown Prince and Prime Minister, launched the EIF, according to data available on Argaam. 

source : Argaam