Saudi Arabia is set to launch the first company specializing in the marketing of agricultural products, with funding from the Agricultural Development Fund amounting to 700 million riyals (186.6 million dollars).
The National Agriculture Committee said the move will further support Saudi agriculture investors and farmers in various parts of the country.
Ibrahim Al-Turki, chairman of the National Agriculture and Fisheries Committee of the Union of Chambers of Commerce, said the idea of setting up the company was initiated by the Ministry of Agriculture. in its efforts to develop the sector, in line with Vision 2030, by increasing the agricultural domestic product from 130 to 165 billion riyals ($44 billion).
The company specializing in agricultural marketing will represent a qualitative complement to the sector, helping to create an identity for agricultural products and crops, giving farmers easier access to retail markets and organizing the work of the 660,000 farms currently in operation. in the Kingdom.
Al-Turki added that work was underway between the Ministry of Agriculture and the Committee of the Federation of Saudi Chambers to establish the new company, which would operate throughout Saudi Arabia to help achieve security. food and support the technical capacities of farmers.
According to the Saudi official, in a joint meeting attended by the Ministry of Agriculture, Environment and Water and the Federation of Saudi Chambers, the Agricultural Development Fund expressed its willingness to finance the company with a minimum amount of 700 million riyals.
In addition, the National Logistics Committee of the Federation of Saudi Chambers is preparing to launch a detailed study on the location of jobs in the logistics sector and its impact on investors and the national economy.
The study would be submitted to the competent authorities to find appropriate solutions guaranteeing the competitiveness and sustainability of the companies.
The Chairman of the Committee, Khaled Al-Bawardi, highlighted the support of investors in the logistics sector for the state’s efforts to implement localization projects, within the framework of the Kingdom’s strategic development objectives. But he added that such an undertaking requires intense parallel efforts to train and qualify national cadres and focus on jobs that attract Saudi youth in the logistics sector.