MEWA says food industry imports cost SAR 70 bln per year, eyes 85% localization by 2030

Ministry of Environment, Water and Agriculture’s building 

The Ministry of Environment, Water and Agriculture (MEWA) said that the annual cost of imports by the food industries stands at SAR 70 billion, which provides many opportunities for entrepreneurs, investors and owners of small and medium enterprises (SMEs), particularly, with the ministry support.

Through this support, the ministry aims to localize 85% of the food industry by 2030, MEWA added in a statement.

The announcement came during Gulf Entrepreneurs Forum, where the Head of Entrepreneurship at MEWA, Ali Alsabhan, participated in a session titled "The impact of entrepreneurship and innovation on the food and environmental security of the GCC countries".

Alsabhan said the Kingdom aims to raise its production of fish by 500% and elevate exports to SAR 3 billion, in addition to increasing the volume of date exports to SAR 2.5 billion by 2025.

He pointed out that the ministry adopts a strategy to develop innovation and entrepreneurship in its sectors to enhance competitiveness and sustainability for the environment, water and agriculture sectors in the Kingdom.

Meanwhile, he noted that the ministry is working to develop entrepreneurial projects and activate local and international strategic partnerships to support and develop the innovation and entrepreneurship system.

This will be through activating the role of business incubators and accelerators in the development of innovations, empowering SMEs in the fields of environment, water and agriculture, as well as developing and building partnerships for innovation and entrepreneurship, with the public and private sectors in fields of national priority.