Saudi Private Sector to Explore Agricultural Investment Opportunities in 10 Arab Countries

Great opportunities for the Saudi private sector to invest in local and foreign agricultural projects. (Asharq Al-Awsat)
Great opportunities for the Saudi private sector to invest in local and foreign agricultural projects. (Asharq Al-Awsat)
TT

Saudi Private Sector to Explore Agricultural Investment Opportunities in 10 Arab Countries

Great opportunities for the Saudi private sector to invest in local and foreign agricultural projects. (Asharq Al-Awsat)
Great opportunities for the Saudi private sector to invest in local and foreign agricultural projects. (Asharq Al-Awsat)

The Saudi private sector plans to explore investment opportunities in the agricultural sector in 10 Arab countries, including Saudi Arabia, official data revealed on Saturday.

The Federation of Saudi Chambers (FSC) had presented a comprehensive and detailed list on the future projects in the specified countries, to benefit the companies and institutions operating in the Kingdom and give them the opportunity to expand their businesses abroad and achieve their goals.

According to the information obtained, the FSC received a letter from the Union of Arab Chambers (UAC) on the existing cooperation with the Arab Authority for Agricultural Investment and Development (AAAID).

The AAAID was established in 1976 and contributes to the capital of 53 major agricultural companies across 12 Arab countries.

The information revealed that the agricultural investment opportunities are available in Morocco, Mauritania, Tunisia, Oman, the United Arab Emirates, Egypt, Qatar, Iraq and Saudi Arabia.

The FSC called on the interested private sector companies to review the available opportunities.

Asharq Al-Awsat obtained a copy of the list, which indicated that the opportunities available in the Kingdom lie in contributing to the financing of projects through loans or equity to complete the implementation of the hatchery’s second phase.

This would increase the capacity to 80 million eggs per year, as well as maternal farms to produce chicks and establish a fodder factory.

Investors could also participate in or contribute to fully exploiting the production capacity of the Arab Sea Goods Factory in Jeddah (west of the Kingdom).

They can also contribute to the reoperation of the first phase of a special project on shrimp on an area of ​​700 hectares and the completion of the following phases.

The private sector also has great chances to participate in investment opportunities in Sudan, where there are nearly 11 projects, topped by the contribution to increase the capital of the Arab Sudanese Seed Company, modernize its assets and components and introduce modern technologies.

In addition to that, they can ink strategic partnerships with an international seed company, benefit from its expertise in producing hybrid seeds for the targeted crop varieties, expand its activities and export its products to the markets of neighboring countries.

The list also revealed investment opportunities in Morocco, noting that investors can contribute to the capital of a project related to vegetables, fruits, concentrated juices and jams, as well as all kinds of berries, citrus, olives and virgin olive oil.

As for Mauritania, it has projects related to cherry tomatoes, melon, green beans, fruits, potato and rice seed propagation.

The opportunity lies in participating or contributing to increasing the capital of the company operating in the sector to expand its activities in the field of agricultural services.

This in addition to another project that includes the production of a group of agricultural crops, a large part of which will be allocated for export, as well as contributing to the establishment of all poultry meat and table eggs.

According to the list, there are four projects in Tunisia, most notably the rehabilitation of a raw milk, wheat and fodder crops project.

Investors can also contribute to the capital of the Tunisia Fisheries Fund, as well as an opportunity to extract Fitura oil, increase production capacities, and provide loans for the implementation of cooling, grading and packaging units for peaches, apricots, plums, apples, citrus fruits and potatoes.

The AAAID set specific criteria for the projects it plans to invest in in the future that come in line with its strategy.

They cover the operational and financial aspects and enable direct and quick verification of the extent to which these projects are compatible with the authority’s strategy.



Saudi Energy Minister: Petroleum and Petrochemical Law Guarantees Fair Competition for Investors

Saudi Energy Minister Prince Abdulaziz bin Salman. (Reuters)
Saudi Energy Minister Prince Abdulaziz bin Salman. (Reuters)
TT

Saudi Energy Minister: Petroleum and Petrochemical Law Guarantees Fair Competition for Investors

Saudi Energy Minister Prince Abdulaziz bin Salman. (Reuters)
Saudi Energy Minister Prince Abdulaziz bin Salman. (Reuters)

Shortly after the Saudi Cabinet approved the Petroleum and Petrochemical Law, Energy Minister Prince Abdulaziz bin Salman said on Tuesday the regulation aims to achieve a set of goals, mainly regulating petroleum and petrochemical operations, in a manner that contributes to economic growth.

The law also backs efforts to attract investments, elevates employment rates, upgrades energy efficiency, safeguards consumers and licensees, while ensuring product quality and creating a competitive environment that fuels fair economic yields for investors, the Minister said.

Prince Abdulaziz expressed his gratitude to Custodian of the Two Holy Mosques, King Salman bin Abdulaziz and Prince Mohammed bin Salman, Crown Prince and Prime Minister, for the Cabinet’s decision to approve the new law.

He praised the Saudi leadership for its support and empowerment of the energy sector, and its contribution in boosting the sector’s productivity to achieve the targets of Vision 2030.

The new law helps in building the local energy sector’s legislative framework, Prince Abdulaziz went on to say.

“This is accomplished by leveraging the top-tier international practices, boosting performance, achieving national objectives, and ensuring the optimal use of petroleum and petrochemical resources,” he said.

The new law, replacing the Petroleum Products Trade Law, helps ensure the security and reliability of local petroleum and petrochemical supplies, the minister explained.

This is on top of achieving optimal utilization of raw materials, supporting the localization of the industry’s value chain, enabling national strategies and plans, and enhancing the control and supervision of petroleum and petrochemical operations to step up compliance with laws and regulations, he added.

The new law combats practice violations by regulating the activities of use, sale, purchase, transportation, storage, export, import, packaging, and processing of these resources.

It also regulates the establishment and operation of distribution channels and petrochemical facilities, said Prince Abdulaziz.