Saudi Arabia’s food industry stands at a staggering 100 billion Saudi riyals ($26.7 billion), it is the second-largest food industry player in the Arab world, trailing only behind Egypt, and ranks 39th globally. This industry is a significant contributor to the Kingdom’s economy, exporting food products worth approximately 20 billion Saudi riyals ($5.3 billion) annually, according to Mohammed AlQahtani – CEO of Saudi Arabia Holding Co.
With over 400,000 dedicated professionals driving this industry forward, it represents more than economic growth. It signifies employment opportunities for the nation’s workforce, sustainability through responsible agricultural practices, and future readiness in a globalized market.
Ambitious Goals and Visionary Initiatives
Underpinning this economic powerhouse is the ambitious #SaudiVision2030, a transformative roadmap for the nation’s progress. Vision 2030 sets its sights high, aiming to double the food industry’s size to an impressive 200 billion Saudi riyals ($53.4 billion) and elevate food exports to 50 billion Saudi riyals ($13.3 billion). This vision, championed by influential leaders like Mohammed AlQahtani, CEO at Saudi Arabia Holding Company, is not just a dream but a tangible goal that is driving policy and innovation in the sector.
Government Initiatives: Nurturing Growth and Ensuring Sustainability
In alignment with Vision 2030, the Saudi government has implemented a series of strategic initiatives to fortify the food industry’s foundations:
- National Agricultural Transformation Program 2020-2025: This program charts a course towards a 30% increase in agricultural production and a 10% reduction in food imports. By fostering local agricultural growth, this initiative aims to make the Kingdom self-reliant in its food needs.
- National Food Security Strategy 2021-2030: Ensuring the availability of safe, affordable, and nutritious food for every Saudi citizen is a cornerstone of this strategy. By promoting sustainable agricultural practices and reducing food wastage, this initiative is instrumental in enhancing food security across the nation.
- Saudi Food and Drug Authority (SFDA): Rigorously regulating food safety and quality, SFDA plays a pivotal role in ensuring that consumers have access to food products that meet the highest international standards. Through stringent inspections and testing, SFDA safeguards public health and builds trust in the Saudi food industry.
- Saudi Agricultural and Livestock Investment Fund (SALIC): Providing crucial financial support to agricultural and livestock projects, SALIC is instrumental in driving innovation and modernization within the industry. By investing in diverse ventures, including dairy and poultry farms, SALIC contributes to the sector’s evolution and economic sustainability.
- Saudi Export Development Authority: Spearheading the promotion of Saudi food exports, this agency opens international markets for local products. By facilitating global trade partnerships, it not only boosts the industry’s revenue but also elevates the Kingdom’s standing in the global food market.
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