Saudi Arabia Plans to Invest $4.5b in Poultry Production
Business
Riyadh - Asharq Al-Awsat
Saudi Minister of Environment, Water, and Agriculture Eng. Abdulrahman bin Abdul Mohsen Al-Fadhli revealed an expansion plan for the broiler sector and support services, in cooperation with the relevant authorities, to boost the self-sufficiency rate of poultry meat to 80% by 2025 as a first stage to achieve food security. The expansion plan will contribute to pumping new investments into the poultry production sector in the Kingdom with a value of SR17 billion ($4.5 billion) until 2025, to achieve a target production capacity estimated at 1.3 million tons of broiler chickens annually, the Minister said. He also affirmed that the plan will help achieve national food security, increase the contribution to local content, and provide jobs opportunities. Al-Fadhli stressed that the Agricultural Development Fund for companies and institutions wishing to expand in the poultry production industry would provide around 70% of the investment cost when using advanced technologies, adding that the new expansion investments will boost the role of the poultry production sector in achieving food security and providing high-quality local products and appropriate prices. This comes in line with the goals of Vision 2030 to support the private sector, increase its contribution to economic development, and raise its contribution to the gross domestic product. Al-Fadhli hailed the Saudi government for the constant support it provides to the sector to achieve food security. Saudi Arabia's self-sufficiency in poultry meat production increased from 45% in 2016 to 68% in 2022, as the Ministry seeks to raise the self-sufficiency rate of poultry meat to 80% to achieve food security.
from Asharq AL-awsat https://english.aawsat.com/home/article/3776076/saudi-arabia-plans-invest-45b-poultry-production
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