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South Korea’s Wemade to boost Saudi Arabia’s gaming sector
The video game developer will help with training programs, instructional materials, and game localization.
The Middle East is one of the fastest-growing gaming markets in the world. By 2025, more than 85 million gamers will be in Saudi Arabia, the UAE, and Egypt combined. Currently, 67% of Saudi Arabia’s population constitutes gaming enthusiasts.
To support the expansion of the gaming and blockchain industries in the kingdom, the Ministry of Investment of Saudi Arabia (MISA) has inked a preliminary deal with the South Korean video game developer Wemade.
The South Korean game developer signed an MOU with the ministry to work on a number of projects, including training programs, instructional materials, game localization, and sponsorship of local events.
“This progress would be yet another step further into realizing the national objective of becoming a hub for gaming and e-sports in line with the national gaming and e-sports strategy,” a representative from the Ministry of Investment in Saudi Arabia said.
Earlier, Wemade, which has established offices in Abu Dhabi, partnered with Nine66, a subsidiary of Savvy Games Group.
MISA has been collaborating with foreign companies to facilitate investment and expansion projects in Saudi Arabia.
The kingdom’s gaming sector received $488 million in new funding in February. The Saudi Esports Federation, National Development Fund, and Social Development Bank contributed to the funding.