Fashion Commission Meets Investors in Fashion Industry

Thursday 1443/6/17 - 2022/01/20
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Riyadh, Jan 20, 2022, SPA -- The Fashion Commission held a virtual open meeting that brought together the Commission CEO, Burak Cakmak with investors and those interested in investing in the fashion and textile industry.
The virtual meeting was held within the framework of the open meetings organized by the Fashion Commission with the fashion community throughout the Kingdom of Saudi Arabia in order to enhance communication with stakeholders.
During the meeting, the Fashion Commission's employees reviewed the vision of the Commission, which aims to enhance the heritage and national identity in the Kingdom, meet global needs and achieve impact on the national economy, through 12 initiatives that cover the various aspects of the sector.
They also emphasized the strength of the fashion sector as an economic source for the development of non-oil revenues so as to achieve Vision 2030, as the volume of demand for clothing and textiles in the Kingdom in 2019 amounted to approximately 75 billion Saudi riyals.
The meeting witnessed a wide discussion by the participants who dealt with the most important challenges facing the sector, such as the challenges of the requirements for the locations of factories and factories.
They also discussed other challenges, including the high expenses compared to revenues, stressing that the high cost of production is directly reflected in the selling price, which affects the competitiveness of national goods of high quality compared to the lower price imported goods.
21:14 LOCAL TIME 18:14 GMT