Saudi Arabia To Invest $64 Billion In Entertainment Sector

Saudi Arabia to host first ever Arab Fashion Week

Defense Minister Khurram Dastgir on Thursday said that Pakistan attaches great importance to its historical relations with Saudi Arabia and Iran.

Al Khatib also said the kingdom plans to invest $64 billion in entertainment in the next 10 years, explaining that the funds will be provided by both the government and private sector.

The opening up of new entertainment options in the conservative kingdom is part of a programme of reforms dubbed "Vision 2030" championed by Crown Prince Mohammed bin Salman.

Saudi Arabia's General Entertainment Authority announced the start of the construction of an Opera house in Riyadh, a project that is among many others related to the entertainment sector. The kingdom has already begun construction of its first opera house, he said. The young crown prince is reported to want more Saudi's to take fewer holidays overseas and spend their vacations within the Kingdom to further boost the country's ailing economy. "This historic move will propel the fashion sector in the Arab world to new heights", commented Jacob Abrian, founder and chief executive of the Arab Fashion Council, adding, "Today, we are a step forward towards achieving our goals of establishing a solid infrastructure for our regional fashion industry and providing prosperous opportunities for the future generation of Arab designers".

"We are bringing the most exciting and famous events to Saudi Arabia this year", Khatib told Reuters in an interview, adding that state-sponsored entertainment events would be staged in 56 cities.

He said our defense and economic relations with Saudi Arabia have deepened while we are cooperating with Iran in anti-terrorism efforts. Our 2018 calendar features 5,500 entertainment in 48 cities in Saudi Arabia this year.



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