Saudi Arabia to invest USD 64 billion in entertainment in next decade

Aaron Brown
February 23, 2018

"The bridge is starting to reverse", Khatib said, referring to the causeway linking Saudi Arabia with more liberal Bahrain where many Saudis flock for weekend getaways. "With the counsel and expertise of the British Fashion Council, the AFC will nurture and promote the talent resource from the region and strategically reinforce the Arab World as an important economic hub for the worldwide fashion industry", said Jacob Abrian, founder and chief executive, the Arab Fashion Council.

This comes as part of the partnership between the British Fashion Council and AFC, which was announced during London Fashion Week.

The plan is part of an ambitious reform strategy, called Vision 2030, launched by Saudi Arabia's Crown Prince Mohammed bin Salman, aiming to open the country to Western investments and diversify its oil-dependent economy.

The Arab Fashion Council (AFC), representing the 22 Arabic countries' members of the Arab League, has established a multi-year partnership with the British Fashion Council (BFC).

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He said Pakistan's defence and economic relations with Saudi Arabia have deepened while with Iran we are cooperating in anti-terrorism efforts.

The main player that will be showcasing at the event has been announced to be Roberto Cavalli.

"God willing, you will see a real change by 2020", Khatib said, adding that more than 5,000 events were planned for the coming year.

Minister of Culture and Information Awwad Al-Awwad said in a statement to the Saudi Press Agency (SPA) following the session that the Cabinet reiterated its keenness to restore stability in Iraq.

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