The Ministry of Industry and Mineral Resources has unveiled an ambitious plan to attract $20 billion in investments to the food industry by 2035 in Saudi Arabia. This substantial investment will play a pivotal role in fostering the growth and advancement of key sectors within the food industry, including dairy, bakery, sweets, and beverages.

Objectives:

. The ministry aims to capitalize on the Kingdom's comparative advantages by maximizing the value of select agricultural crops.

. The goal is to double the value of food exports from $3.7 billion in 2022 to $10.9 billion by 2035.

. These strategic objectives are aligned with the National Industrial Strategy, which seeks to foster sustainable growth in the food industry.

Ongoing Projects:

. Almarai Company's $1.2 billion expansion project to enhance poultry production capacity.

. Arab Seara Food Industries, a subsidiary of Brazilian GBS group, establishing a $120 million poultry products factory in the Middle East and North Africa.

. The Kingdom's groundbreaking $133 million canned tuna project, a pioneering venture.

Benefits:

. The investments are projected to create over 4,000 new job opportunities in the food industry.

. The initiatives will contribute to the development of local content within the food industry.

. Saudi food products will be promoted and exported to regional and global markets, enhancing the Kingdom's presence in the industry.