KSA to launch fisheries incubator; aims to increase exports at $3.19bln

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Riyadh - The Saudi Ministry of Environment, Water and Agriculture announced the launch of a fisheries incubator and accelerator. Over the coming period, the ministry aims to increase its exports of fisheries to 300,000 tonnes at SAR 12 billion.

In addition, it said it will sign an agreement with the Royal Commission for Jubail and Yanbu in Jazan City for Primary and Downstream Industries (JCPDI) to establish a 28-square kilometre Protein City for meat and fish, according to a recent statement.

The statement was made on the margin of the Saudi Agri-Business Forum (SABF) 2022 sessions held in parallel with the Saudi Agricultural 2022, taking place from 17 – 20 October 2022, at the Riyadh International Convention & Exhibition Center.

The Saudi environment minister, Abdulrahman Al Fadhli, revealed that there are more than 23 investment opportunities in the fisheries sector, adding that the kingdom’s production of fish during 2015 amounted to 3,000 tonnes, whilst exceeded 35,000 tonnes during the first half (H1) of this year.

Last year, the kingdom’s production of fisheries reached 59,000 tonnes, compared to 1,500 tonnes in 2015, with a value exceeding SAR 1.20 billion.

In 2020, the Gulf nation's livestock sector contributed more than SAR 17 billion to the gross domestic product (GDP). Since 2016, the kingdom’s imports of poultry shrank by 12%.

Poultry production in Saudi Arabia has seen exponential growth at an annual rate of 10% since 2014 and is targeted to reach 85% by 2030.