Saudi Arabia imports $ 20 billion worth of food products annually
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.
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