Saudi agribusiness market to hit $2.2bn
Riyadh, June 28, 2012
The agribusiness market in Saudi Arabia will increase by 1.3 per cent year-on-year to hit $2.2 billion in 2012, thanks to the massive investments in the sector by the government with focus on food security, said an expert ahead of an industry event in Riyadh.
Saudi Agriculture 2012 expo will be held from September 24 to 27 at the Riyadh International Convention & Exhibition Center, covering all aspects of the agriculture and food industries from management, production, packaging and distribution.
Now in its 31st year, Saudi Agriculture 2012 is being hosted by The Riyadh Exhibitions Company.
It will be held concurrently with Saudi Agro-Food: The 19th International Trade Show for Food Products, as well as with the Saudi Food-Pack: The International Exhibition for Food Processing and Packaging to feature the latest products, technologies and services in areas ranging from frozen and chilled foods, confectionery, chocolates, health and natural foods, to presentation, processing and packaging equipment.
The Saudi government’s increased investments in the agriculture sector this year totalling $16 billion are expected to boost the kingdom’s agribusiness market, remarked Khalid Daou, the project manager of Saudi Agriculture in Riyadh Exhibitions Company.
'The huge business investment opportunities in Saudi Arabia’s agriculture sector require a dedicated platform where regional and international investors could identify their roles in support of the government’s growth target for the industry,' he noted.
'Saudi Agriculture 2012 will once again serve as an ideal platform to showcase the huge potential of the kingdom’s agricultural sector to trade visitors looking to explore partnerships and growth opportunities within the fastest growing agricultural market in the region,' he added.
According to him, the kingdom remains focused on food security measures even as Saudi investors receive approval from the Cabinet on agro-investments abroad.
In addition, the Jeddah-based Islamic Corporation for the Development of the Private Sector’s launch of a $600 million food and agribusiness fund promises to address the kingdom’s need for investments in a wide range of commercially sustainable projects for food and agriculture. Apart from these investments, the government eyes to increase its investments in agriculture facilities such as wheat storage facilities, among others.
The exhibition will attract exhibitors from the Gulf, Middle East, Europe, the Americas and Asia, in addition to local companies who will be displaying the latest agricultural products, services and equipment. This year, the event is set to outdo its own title as the Middle East’s largest international agriculture, water and agro-industry show.-TradeArabia News Service