Saudi Arabia is expected to spend more than $1 billion on clothing and other products over the next five years, according to a Saudi government report released Monday.
The report details how the kingdom plans to expand its supply chain to include all its apparel products and footwear.
The Kingdom has expanded its supply of apparel, footwear and other apparel to include the whole world since 2013, the Saudi Ministry of Commerce said in a statement.
The report details the Kingdom’s plan to expand the supply chain by building new factories and adding production facilities.
It says the Kingdom has invested $9.7 billion in the apparel industry, including about $6.2 billion to the garment industry alone.
Saudi Arabia has been investing heavily in the clothing industry, spending nearly $2.5 billion on a new factory last year alone.
The government’s plan for the apparel sector is ambitious, the report says.
It plans to increase the output of the apparel trade from 4.5 million metric tons per year in 2019 to 6.5 millions in 2030.
In 2020, the country plans to produce 6 million metric ton of clothing, and by 2030, it plans to manufacture 15 million metric-ton.
The Ministry of Industry and Trade said the country aims to reach a high-quality, high-margin product by 2030 and to produce this product in a sustainable manner, adding that it will also strive to produce more than 50 percent of its clothes from sustainable sources.