Saudi Arabia Advances Beyond Food Production To Ensure Comprehensive Food Security

Minister of Industry and Mineral Resources Bandar Al-Khorayef underscored the significance of the food industry sector as a cornerstone for achieving Saudi Arabia's food security. Speaking at the Saudi Food Show in Riyadh, held in partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON) and KAOUN International, Al-Khorayef highlighted the Kingdom's comprehensive approach to food security.

Al-Khorayef revealed that a food security strategy has been formulated to ensure the Kingdom's needs for essential food products are met under both normal and emergency conditions. This strategy aligns with several other initiatives under Saudi Vision 2030, including the National Industrial Strategy, the Saudization Strategy, and the Export Strategy.

The minister pointed out that Saudi Arabia has made significant strides in food security, achieving self-sufficiency in various food products. The Kingdom has reached 100% self-sufficiency in dairy products, 52% in fish, and 68% in poultry. These achievements underscore the robustness of Saudi Arabia's industrial base, which includes over 1,500 food factories with investments exceeding SAR88 billion.

In 2023, Saudi Arabia's food exports amounted to approximately SAR20 billion. The Saudi Industrial Development Fund provided 23 loans worth SAR700 million to food factories, while the Saudi Export-Import Bank supported food exports with more than SAR3 billion during the same year.

Al-Khorayef also mentioned that the ministry, in collaboration with its partners, aims to enhance industrial infrastructure and encourage investment in the food industry sector. This includes providing financial and technical support to small and medium-sized enterprises (SMEs) within this sector.

The ministry is actively exploring new investment opportunities and increasing production capacities in the meat, poultry, and seafood sectors. These efforts are part of a broader initiative to bolster the Kingdom's food security and economic resilience.

With inputs from SPA