SAUDI ARABIA PUMPING €24.4 BILLION INTO FOOD AND AGRICULTURE IN BID TO BOOST PRODUCTION AND EXPORTS

26 September 2022
News site https://newsroom.sialparis.com placed an article about Saudi Arabia’s investment plan to boost food and agricultural sectors and expand local production and export. In the statement by the Saudi Minister of environment also mentioned about allocation of 91 billion riyals (€24.4 billion) for developing of industries. About 7 billion riyals, (€1.88 billion), will be directed to loans delivered through the Saudi Agricultural Development Fund.
The country as the UAE is mainly net importer of food commodities that induce the government to enlarge internal Agri sector and encourage local producers through investing. Diversifying economy through diminishing oil and gas extraction dependence can be able to promote food security, alleged the article.

However, scarcity of water resources is encouraging the government to vigorously seek alternative ways such as developing hydroponics which in its turn allows cultivating crops and leafy vegetables but increase energy consumption.

Please check the original article through:

https://newsroom.sialparis.com/regional-spotlight/middle-east-africa/saudi-arabia/
 
 


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