Saudi Arabia Sets Record Production Indicators to Ensure Food Industry Sustainability

Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)
Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)
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Saudi Arabia Sets Record Production Indicators to Ensure Food Industry Sustainability

Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)
Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)

Saudi Arabia achieved record indicators in food production to ensure the industry's sustainability locally, achieve self-sufficiency in some products, and move to the stage of exporting products to foreign markets.

The Saudi Ministry of Environment, Water, and Agriculture reviewed these indicators on the sidelines of the InFlavour exhibition, the largest global event for food sustainability and official trade event for the worldwide food and beverage ecosystem.

InFlavour is taking place at the Riyadh Exhibition and Convention Center from Oct. 29 to 31, with more than 40,000 visitors, 400 exhibitors, 200 speakers, and 200 local and international investors representing 143 countries.

According to indicators, wheat production witnessed a 400 percent increase between 2017 and 2022, vegetables and fruits rose by 58 percent and 205 percent, respectively, fish increased by 73 percent, and dairy grew by 44.

CEO of the National Fisheries Development Program Ali al-Shaikhi told Asharq Al-Awsat that Saudi Arabia has exceeded the rate of self-sufficiency in many products, such as eggs, dairy, and others.

Shaikhi indicated that the Kingdom has moved to the stage of exporting products to foreign markets, noting that the fish and poultry sectors also witnessed rapid growth in production volume.

The Ministry of Environment, Water and Agriculture is capable of balancing between the recent increase in population and the volume of visitors coming to Saudi Arabia by sustainably raising production.

He revealed the Ministry's strategic objectives in the next phase by launching several initiatives to provide food products at competitive prices to the consumer.

Shaikhi explained that the COVID-19 pandemic and the Russian-Ukrainian war were lessons for countries to increase their volume of food industry production and reach self-sufficiency.

Saudi Arabia worked, in integration between the public and private sectors, on a strategic plan that proved successful in the short term directly, he said, adding that the Kingdom is open to all nations to exchange information and build strategic partnerships.

The InFlavour exhibition allows industry leaders to communicate with food and beverage industry experts from around the world.

It offers unique experiences and expertise in various culinary arts and hospitality and proposes creative solutions in food production and industry.

It contributes to developing the promising sector in the Kingdom and achieving Vision 2030.



Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
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Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo

The Spanish government has given the green light to Saudi Arabia's largest telecoms operator, STC Group, to raise its stake in Telefonica beyond 5% and reach 9.97%, Economy Minister Carlos Cuerpo said on Thursday.

Cuerpo confirmed an earlier report by El Pais newspaper during a news conference following the cabinet's weekly meeting in which the stake increase was approved, Reuters reported.

"Measures and conditions have been set and accepted voluntarily by the Saudi company to ensure that (the operation) takes place," Cuerpo told reporters.

He said the government's decision followed an "exhaustive analysis based not only on compliance with current legislation but also to guarantee the national interest in defense and ensure the strategic element in telecommunications".

Last year, STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder.

The Saudi group said at the time it owned a 4.9% stake in Telefonica and financial instruments giving it another 5% in what it called economic exposure to the company.

The Spanish government had to authorize the deal as Telefonica is considered a defence service provider and therefore a strategic company.

The Saudi company has said it does not intend to gain control of or a majority stake in Telefonica.