|
Listen to this story:
|
Key Impact Points:
- $9.8 Billion in Investments: Saudi Arabia attracts significant private sector investments to enhance its agriculture and food sectors.
- Vision 2030 Alignment: Projects focus on crop production, livestock, fisheries, and infrastructure development to support Saudi Vision 2030.
- Incentives for Growth: The Ministry of Environment, Water, and Agriculture is offering various incentives, including agricultural loans and modern technology adoption, to boost investment.
Saudi Arabia’s Ministry of Environment, Water, and Agriculture has secured SAR 37 billion ($9.8 billion) in private investments to advance the kingdom’s agriculture and food sectors. These investments cover a wide range of projects, from crop production and livestock to fisheries, processing, and infrastructure development. All initiatives are in alignment with Saudi Vision 2030.
Expanding Agricultural Capacity
During the 41st Saudi Agricultural Exhibition in Riyadh, the ministry emphasized the importance of the private sector in driving economic growth and sustainability. Dr. Sulaiman Al Khateeb, Assistant Deputy Minister for Agriculture, led the panel discussion on Vision 2030 and the National Food Strategy.
He highlighted that private investments are crucial for achieving food security, economic development, and environmental sustainability. The ministry is also focusing on cold chain infrastructure to improve the transportation of agricultural products and establishing marketing centers throughout the kingdom.
“These investments will drive economic growth, increase agricultural output, and strengthen food security while advancing sustainability goals in line with Vision 2030,” said Dr. Al Khateeb.
Related Article: Golden Agri-Resources Partners with WBCSD to Advance Sustainable Agriculture
Incentives to Attract Investors
To further support these projects, the ministry has introduced a variety of incentives and enablers aimed at enhancing the sector’s efficiency and attracting more private capital. These include:
- Agricultural loans through the Agricultural Development Fund.
- Promotion of modern agricultural technologies.
- Affordable land leases for investors.
- Streamlining of licensing procedures for agricultural projects.
- Offering technical and advisory support to farmers.
These initiatives align with the National Agriculture Strategy 2034, which focuses on natural resource sustainability, innovation, pest prevention, and fostering a thriving agricultural community.
With the government’s strong backing and private sector investments, Saudi Arabia is advancing toward its Vision 2030 goal of achieving a sustainable and self-reliant agricultural sector.