Saudi Arabia aims to localize 85% of food industry
Saudi Arabia’s Ministry of Environment, Water and Agriculture (MEWA) has revealed that the Kingdom aims to localize 85 percent of the country’s food industry by 2030.
Food imports cost Saudi Arabia SR70 billion annually, Supervisor General of the Entrepreneurship Department at MEWA Dr. Ali Al-Sabhan said, adding that the food sector offers many opportunities for entrepreneurs, investors and owners of small and medium enterprises, especially in view of the great support provided by the ministry.
Al-Sabhan’s remarks came during his participation in a seminar titled "The Impact of Entrepreneurship and Innovation on Food and Environmental Security of the Gulf Cooperation Council States", which was held as part of the Gulf Entrepreneurs Forum.
He said Saudi Arabia targets to raise its fish production by 500 percent and increase its exports to SR3 billion, in addition to raising the volume of dates exports to SR2.5 billion by 2025.
“The ministry is adopting a strategy to develop innovation and entrepreneurship which will eventually contribute to enhancing the competitiveness and sustainability of the environment, water and agricultural sectors in the Kingdom of Saudi Arabia," Al-Sabhan said.
He said the ministry is working on developing pioneering projects and activating local and international strategic partnerships, while calling on entrepreneurs to take advantage of the various programs offered by the ministry.