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New Projects Aim to Achieve Food Security in Saudi Arabia

Saudi Arabia’s Tanmiah Food Co. announced a plan to invest SAR 4.5 billion ($1.2 billion) by 2030 to cover 80% of poultry needs locally by 2025. (Asharq Al-Awsat)
Saudi Arabia’s Tanmiah Food Co. announced a plan to invest SAR 4.5 billion ($1.2 billion) by 2030 to cover 80% of poultry needs locally by 2025. (Asharq Al-Awsat)
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New Projects Aim to Achieve Food Security in Saudi Arabia

Saudi Arabia’s Tanmiah Food Co. announced a plan to invest SAR 4.5 billion ($1.2 billion) by 2030 to cover 80% of poultry needs locally by 2025. (Asharq Al-Awsat)
Saudi Arabia’s Tanmiah Food Co. announced a plan to invest SAR 4.5 billion ($1.2 billion) by 2030 to cover 80% of poultry needs locally by 2025. (Asharq Al-Awsat)

Saudi Arabia’s Tanmiah Food Co. announced on Thursday a plan to invest SAR 4.5 billion ($1.2 billion) by 2030 to cover 80% of poultry needs locally by 2025 and achieve food security and sustainability in the Kingdom.

During a ceremony held in Riyadh, Saudi Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadhli oversaw the launch of new projects aimed at achieving self-sufficiency.

Tanmiah Food Co. signed four agreements with the Agricultural Development Fund (ADF), Saudi Investment Recycling Co. (SIRC), and the National Center for Vegetation Development and Combating Desertification, in addition to a strategic partnership for food development with the EU's largest poultry producer MHP.

These agreements aim to cover the Kingdom's needs and achieve self-sufficiency in poultry production, in addition to increasing green areas and reducing pollution.

Moreover, the agreements contribute to strengthening the role of the private sector as a key partner in achieving the goals of Saudi Arabia’s national transformation plan, Vision 2030.

Tanmiah also announced the launch of a community partnership initiative with small investors in the poultry industry to produce 1.2 million chickens per day, as well as the adoption of a new healthy production line called “Tanmiah Life”, for healthy poultry products supported with Omega 3.

Tanmiah is one of the national companies operating in the sector of fresh and frozen poultry, processed meat products and animal feed.

Besides being a public company listed on the Saudi Tadawul, Tanmiah is the leading provider of poultry and other meat products in the Middle East and North Africa region. It has been able to obtain the approved global standard for food safety from the British Retail Consortium.

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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.