Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef emphasized that the food industry sector is not merely a source of food production, but a fundamental pillar for achieving the Kingdom's food security.
He made his remarks during the opening of the Saudi Food Show that is being held in strategic partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON) and KAOUN International in Riyadh.
He noted that the Kingdom seeks to offer comprehensive solutions for food security, adding that a food security strategy has been developed to ensure its needs for essential food products are met under both normal conditions and emergencies.
This strategy aligns with several others under the Saudi Vision 2030, including the National Industrial Strategy, the Saudization Strategy, and the Export Strategy.
Moreover, Al-Khorayef highlighted that Saudi Arabia has achieved tangible results in food security, meeting its needs for essential food products under all circumstances, including emergencies, and enhancing self-sufficiency in many food products. The Kingdom has achieved 100% self-sufficiency in dairy products, 52% in fish, and 68% in poultry.
He stated that the Kingdom boasts a robust industrial base with more than 1,500 food factories and investments exceeding SAR88 billion.
He also noted that the Kingdom's food exports amounted to approximately SAR20 billion in 2023. The Saudi Industrial Development Fund provided 23 loans worth SAR700 million to food factories, and the Saudi Export-Import Bank provided more than SAR3 billion to support food exports during the same year.
The minister stressed that the ministry, in collaboration with its partners, aims to improve industrial infrastructure, encourage investment in the food industry sector, and provide financial and technical support to small and medium-sized enterprises in this sector.
Additionally, the ministry is exploring new investment opportunities and increasing production capacities in the meat, poultry, and seafood sectors.
