Saudi Arabia

Saudi Teams up With South Korea’s Wemade to Power Gaming, Blockchain Sectors

South Arabia’s Ministry of Investment has signed an initial agreement with South Korean video game developer Wemade to boost the growth of gaming and blockchain industries in the kingdom.

The agreement followed Wemade’s participation in the Saudi-Korea Investment Forum in Seoul in November, where it held meetings with the kingdom’s Investment Minister Khalid Al-Falih and other Saudi officials.

“We are very excited for Wemade’s progress in expanding its activities in Saudi Arabia and are looking forward to continuing supporting Wemade’s footprint through connecting it to strategic partners in the sector,” a representative from the Ministry of Investment in Saudi Arabia said on Tuesday.

“This progress would be yet another step further into realising the national objective of becoming a hub for gaming and e-sports in line with the national gaming and e-sports strategy,” the representative added.

The Saudi Ministry teams up with international companies to streamline investment and expansion initiatives in Saudi Arabia. As part of the kingdom’s 2030 Vision that focuses on diversifying the country’s energy-based economy, the ministry aims to facilitate business opportunities for foreign entities.

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