16 - 19 September 2024  –  11th Edition
Riyadh Intl. Convention & Exhibition Center
RIYADH, Saudi Arabia

Saudi Arabia imports $ 20 billion worth of food products annually

Published 2024-01-29 08:26:40

The Gulf countries import $ 40 billion worth of food products, while North African countries import about $ 60 billion, and the Kingdom's location gives it a comparative advantage to provide many investment opportunities."

"We have many regulations and legislations that stimulate investments, and we have the Agricultural Development Fund lending about 8 billion riyals annually, compared to about 500 million riyals seven years ago, which is an indicator of the attractiveness of the sector," al-Fadhli said.

The Minister of Environment, Water and Agriculture added that the Kingdom has opportunities to establish global alliances in the food sectors, to become a centre for importing food commodities and processing them for re-export.

He pointed out that the kingdom aims to increase its production of poultry, meat, vegetables, and fruits, adding: "We do not hinder export or import in the Kingdom."

A conference was held to discuss strengthening partnerships between the Kingdom and Africa in the energy sector to accelerate sustainable development and the importance of joint efforts between the Kingdom and Africa to drive a sustainable economic future.

This will provide a comprehensive perspective on the agricultural landscape, its potential and challenges, and food security in the Kingdom and Africa, and the importance of knowledge, skills, and capabilities of young people in economic growth and its impact on increasing productivity and rising income.


Source: Al Arabiya

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