Saudi Arabia is expected to have a SAR 221 billion ($59 billion approx.) worth of food industry investments until 2021-Foodex Saudi
Saudi Arabia
is expected to have a SAR 221 billion ($59 billion approx.) worth of food
industries investments until 2021, said Mohammed Al Juniny, head of
manufacturing at the Saudi Arabian General Investment Authority (SAGIA) in a
statement.
These investments
are forecast to increase by 6 percent per annum (pa)
“The Kingdom
is a top regional exporter of sea food products thanks to its regional
strategic position and other competitive factors,” he added.
Al Juniny
highlighted that investors may access the Saudi Arabian food industries segment
due to the segment’s underpenetrated as well as competitive nature,
government’s support, and the favourable business environment.
The sea food
consumption is estimated to grow by 7.4 percent per annum to 600,000 tons in
2030, he noted, adding that the 1,800-km-coastline would help provide numerous
investment opportunities.
Source:
Research and Markets