Saudi Arabia launches Events Investment Fund to boost sectors

RIYADH, Jan. 17 (Xinhua) -- Saudi Arabia announced on Tuesday the launch of an investment fund to boost culture, tourism, entertainment and sports sectors in the kingdom, the Saudi Press Agency reported.

The Events Investment Fund (EIF) focuses on increasing direct foreign investment to contribute 28 billion Saudi riyals (7.46 billion U.S. dollars) to the gross domestic product by 2045.

The EIF seeks to d