Saudi Arabia is looking forward to increasing production of cultured fish to 100,000 tons in 2022 and around 600,000 in 2030 through enhancing partnership with the private sector in addition to encouraging foreign investments to launch projects of aquaculture and feed factories and to equip fish products.
Ali al-Sheikhi, Chief Executive Officer of the National Fisheries Development Program in Saudi Arabia, said that the program aims to integrate techniques of the 4th Revolution to the aquaculture – the program also aims to increase production.
During the Saudi Investment Forum for Aquaculture held under the “Invest Saudi” that kick-started in Dubai on Wednesday, about 30 investment opportunities will be marketed.
Sheikhi described the forum as a platform to foster the partnership with the private sector and to attract foreign investments. The initiatives of the National Industrial Development and Logistics Program recently launched by Saudi Crown Prince Mohammed bin Salman included five pioneering initiatives: develop the industry of aquaculture, accomplish food security, fulfill seafood needs, develop rural shore regions, and maintain natural resources.
An amount of SAR1.3 billion (USD346 million) was allocated to support the fish sector, he added.
Head of Arab Authority for Agricultural Investment and Development (AAAID) Mohamed al-Mazrouei said that holding the forum falls under the authority’s efforts to reinforce agriculture investment in general and aquaculture investment in specific and to develop current industries in the region especially and in the Arab world in general.
The forum introduces the ready investment portfolios in the field of aquaculture and the qualitative initiatives that embody the aspirations of the authority. Mazrouei added that the forum aims to exchange the best practices and expertise among investors and launch projects in this field.
