The 10th session of the Arab-China Business Conference 2023 has launched under the theme "Collaborating for Prosperity" in Riyadh.
During a panel discussion on Food Security and Agricultural, His Excellency the Minister of Environment, Water and Agriculture, Eng. Abdulrahman bin Abdulmohsen AlFadley confirmed that the Kingdom and China can achieve self-sufficiency in the two countries and contribute to food security globally through cooperation in agricultural investments abroad and exploiting great opportunities.
H.E AlFadley said 17 marine investment opportunities a Saudi team will review in China. He added that the Kingdom has 3,000 km of coastline which produce the best fish products and export to China.
AlFadley stressed that Saudi seeks agricultural investment abroad. As the assets of SALIC for agricultural investment abroad are more than SR 30 billion. For the next 10 years, SALIC will invest in 12 strategic commodities to produce abroad and then transfer them to Saudi Arabia.
"The General Food Security Authority (GFSA) aims to achieve food security, launch many initiatives, and establish an early warning hub for food crises," AlFadley added."The agricultural loans increased to SR 7 billion increase in agricultural loans in 2022 compared to SR 500 million in 2015, and we will increase it to SR 8 billion in loans to farmers and investors in 2023."
During the Arab League Summit in Jeddah, the food commodities initiative was launched for Arab countries. The Kingdom's move in this direction aligns with Vision 2030. To combat rising global food prices, the Saudi government has allocated SR 2 billion.