RIYADH: Saudi Fashion Commission leaders recently held an open meeting with investors and others looking to invest in the country’s fashion and textile industry.
The virtual session, attended by the commission’s chief executive officer, Burak Cakmak, was one of a number of similar gatherings run by the organization with the Kingdom’s fashion community to enhance communication with stakeholders.
During the meeting, officials reviewed the commission’s main aims of promoting national heritage and identity, and meeting regional and international economic needs, through 12 sector initiatives.
They highlighted the important role played by the fashion sector in helping generate non-oil revenues for Saudi Arabia as part of the Vision 2030 reform plan and noted that in 2019 the clothing and textile industry in the Kingdom had been worth approximately SR75 billion ($20 billion).
Delegates discussed ways to tackle sector challenges including issues related to factories and their location, and rising production costs which were having a knock-on effect on product prices and market competition with cheap imported goods.
