RIYADH: Saudi Arabia’s Ministry of Environment, Water, and Agriculture announced a remarkable increase in private sector investments within the kingdom’s agriculture and food sector, exceeding 37 billion Saudi riyals (approximately $9.8 billion).
The surge in financial commitment signifies a crucial step towards achieving the ambitious goals outlined in Saudi Vision 2030, which aims to transform the nation’s economy and enhance food security.
The investments encompass a diverse array of projects, including crop production, livestock and fisheries, and various facets of agricultural processing and infrastructure development.
Such comprehensive coverage highlights the kingdom’s intent to bolster its agricultural capabilities while simultaneously enhancing economic growth and social development.
A pivotal aspect of this initiative is the emphasis on cold chain infrastructure, essential for the efficient transportation and preservation of agricultural products. The establishment of marketing centers throughout Saudi Arabia is also encouraged, allowing for improved distribution and accessibility of agricultural goods.
Food security
During the 41st Saudi Agricultural Exhibition in Riyadh, the ministry underscored these objectives in a panel discussion led by Assistant Deputy Minister for Agriculture Dr. Sulaiman Al Khateeb. He articulated the indispensable role of the private sector in driving forward the agricultural landscape, fostering collaboration to address challenges related to food security and environmental sustainability.
Aligned with the National Agriculture Strategy 2034, the ministry’s endeavors aim to ensure natural resource sustainability and promote innovation within the agricultural space.
Dr. Al Khateeb outlined several incentives to facilitate these investments, including support for agricultural loans via the Agricultural Development Fund, streamlined licensing processes, and technical assistance for farmers. These strategies are designed to create a conducive environment for investment, thereby invigorating the agricultural sector and contributing to the overall prosperity of the kingdom.
