TLDR:
• $9.8B secured to boost agriculture
• Vision 2030 enhances crop, livestock, fisheries
• Incentives fuel private sector investment
RIYADH (The Thursday Times) — Saudi Arabia’s Ministry of Environment, Water, and Agriculture has successfully secured SAR 37 billion (approximately $9.8 billion) in private sector investments, marking a pivotal moment in the kingdom’s drive to enhance its agricultural and food sectors in alignment with Vision 2030. These investments will span diverse initiatives, from crop production and livestock development to fisheries and food processing, all aimed at bolstering the nation’s food security and economic sustainability.
At the 41st Saudi Agricultural Exhibition in Riyadh, Dr Sulaiman Al Khateeb, Assistant Deputy Minister for Agriculture, stressed the importance of private investment in helping Saudi Arabia achieve its ambitious Vision 2030 goals. These objectives not only focus on increasing food production but also on ensuring environmental sustainability and economic growth within the kingdom’s agriculture sector. The Ministry’s focus on strengthening cold chain infrastructure for the efficient transportation of agricultural goods is a key part of this drive, alongside the establishment of marketing centres across the country.
Vision 2030 and the private sector’s role
Saudi Arabia’s Vision 2030 framework, a cornerstone for the kingdom’s future economic and social development, aims to reduce dependency on oil revenues and diversify the economy. Agriculture, which is essential for food security, economic independence, and sustainability, is one of the sectors that has garnered significant focus. The Ministry of Environment, Water, and Agriculture has recognised the critical role that the private sector will play in helping the country meet these objectives.
According to Dr Al Khateeb, these investments will lead to an expansion in agricultural capacity, with a particular focus on improving crop production, developing livestock, and boosting fisheries. The private sector’s involvement is vital to ensure the country not only meets its domestic food demand but also contributes to a more resilient and sustainable global agricultural market.
Agriculture technology and infrastructure improvements
As part of the Vision 2030 plan, the Ministry is keen to embrace technological advancements in agriculture. Modern technologies are being promoted to enhance production efficiency and sustainability. These include innovations in irrigation, crop management, and digital tools that provide real-time data to optimise production processes. Cold chain infrastructure, which plays a crucial role in preserving perishable food products during transportation, is being upgraded to ensure a seamless and efficient supply chain for both domestic and international markets.
Incentives and support for investors
To attract and sustain private sector investment, the Ministry has introduced a range of incentives. The Agricultural Development Fund, a key financial enabler, provides loans to both established agribusinesses and new entrants in the sector. Additionally, the Ministry is offering affordable land leases to investors, streamlining licensing procedures, and providing both technical and advisory support to farmers.
These measures are intended to ease the process for businesses to enter and expand within the agricultural sector, driving the kingdom’s overall agricultural productivity. The government’s strong backing, combined with the financial support and advisory services offered by the Ministry, is designed to stimulate growth and encourage innovation across the industry.
Sustainability goals and National Agriculture Strategy
The push towards sustainable agriculture is further strengthened by the National Agriculture Strategy 2034, which is closely aligned with Vision 2030. This strategy focuses on the sustainable use of natural resources, innovation in pest prevention, and the promotion of environmentally friendly farming practices. By integrating these elements into the broader agricultural development plans, Saudi Arabia is positioning itself as a global leader in sustainable agriculture.
The long-term sustainability of the agriculture sector will also be underpinned by fostering a thriving agricultural community. The strategy seeks to support local farmers by encouraging best practices and ensuring that the sector’s growth does not come at the expense of the environment.
