Saudi Agricultural Exhibition Opens with Over SAR800 Million in Development Investments

The 41st Saudi Agricultural Exhibition was inaugurated in Riyadh on Monday. (SPA)
The 41st Saudi Agricultural Exhibition was inaugurated in Riyadh on Monday. (SPA)
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Saudi Agricultural Exhibition Opens with Over SAR800 Million in Development Investments

The 41st Saudi Agricultural Exhibition was inaugurated in Riyadh on Monday. (SPA)
The 41st Saudi Agricultural Exhibition was inaugurated in Riyadh on Monday. (SPA)

Saudi Minister of Environment, Water and Agriculture Eng. Abdulrahman Alfadley inaugurated on Monday the 41st Saudi Agricultural Exhibition in Riyadh.

The event, which runs from October 21-24, highlights key investment opportunities and features cutting-edge technologies, solutions, and innovations in the agriculture sector. Over 420 agricultural companies representing 29 countries are taking part. Qatari Minister of Municipality Dr. Abdullah bin Abdulaziz Al-Subaie attended the opening ceremony.

Alfadley emphasized the importance of strengthening national economic priorities and achieving food security in Saudi Arabia while striking a balance between agricultural development and the preservation of natural resources.

This is key to boosting sustainability and ensuring the protection of the environment and agricultural assets for future generations, he stressed.

Alfadley underscored the significant economic growth of the agricultural sector over the past three years, attributing it to the unwavering support from the country’s leadership and to the ministry’s efforts to promote sustainable agricultural practices. These have led to the sustainability of agricultural production; the preservation of soil, water, and natural resources; and self-sufficiency in a variety of agricultural products.

The sector achieved its highest-ever contribution to gross domestic product (GDP), amounting to SAR109 billion, further driving sustainable development and supporting the national economy, he revealed.

During the exhibition, Alfadley witnessed the signing of 12 agreements and memoranda of understanding with total investments exceeding SAR800 million to bolster agricultural production in the Kingdom.

The event saw the launch of the KAUST Center of Excellence for Sustainable Food Security. The strategic initiative aims to boost food security in the Kingdom by developing sustainable innovations and solutions in agriculture in line with Saudi Arabia’s Vision 2030.



Watchdog FATF Places Lebanon on Financial Crime Watchlist

People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
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Watchdog FATF Places Lebanon on Financial Crime Watchlist

People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)

Lebanon has been placed on the so-called "grey list" of countries under special scrutiny by financial crime watchdog FATF, FATF said on Friday.

"Of course we recognize the extreme, grave situation that Lebanon is currently facing," Elisa de Anda Madrazo, the watchdog's president, told journalist.

"Lebanon's status on the grey list should not impede relief efforts ... We are working to make sure that channels of humanitarian aid remain open," she added.

Lebanon has been in a financial crisis since 2019 that has been left to fester by the country's leaders and now faces growing damage from Israeli airstrikes and ground operations against Hezbollah.

Madrazo said Lebanon had been accorded some flexibility regarding deadlines set in its action plan, but did not provide details at the news conference.

A source told Reuters earlier on Friday that the war had led the FATF to give Lebanon until 2026 instead of 2025 to address the issues that led to its grey-listing, including concerns over terrorism financing and a lack of judicial independence.

The grey-listing is likely to further deter investment in Lebanon and could affect the relationship between some Lebanese banks and the global financial system.