Saudi Arabia encourages Hollywood entertainment industry to try ventures in the country

HOLLYWOOD, LOS ANGELES (KABC) -- Saudi Arabia is open for entertainment. The country's government ministers hosted a summit at the Four Seasons Hotel.

Officials encouraged the Los Angeles entertainment industry to launch ventures in Saudi Arabia.

Faisal Bafarat, CEO of Saudi Arabia's General Entertainment Authority, welcomed partnerships and newcomers.

"If anyone wants to come and execute an event you can create it 100 percent or partner with one of our great vendors," he said.

The country is undergoing big changes led by crown Prince Mohammad Bin Salman, who is visiting Los Angeles this week. The 32-year-old prince created "Vision 2030," an initiative that he hopes will create a more vibrant society.

"We have other sectors such as theme parks, water parks, sports, e-gaming and what have you," Faisal said.

Saudi Arabia has a goal of hosting 5,000 events this year with the hope of attracting around 15 million visitors.

Under a just announced deal with AMC, Saudi Arabia's first movie theater will open later this month. AMC hopes to open 100 theaters by 2030.