Saudi Arabia has advanced its food security and industrial localization agenda with the signing of two strategic agreements to develop and expand the fish and seafood processing sector in the Kingdom.
The agreements were signed between the Ministry of Investment, the Shareek Program Center, and Almarai Company, one of the Kingdom’s food and dairy enterprises, in the presence of Minister of Environment, Water, and Agriculture, Abdulrahman Alfadley and Minister of Investment Fahad Al-Saif.
The initiative was also attended by Chairman of the Board of Almarai Company, Prince Naif bin Sultan bin Mohammed bin Saud AlKabeer, along with Secretary-General of the Localization and Balance of Payments Committee, Dr. Hamad Al-Sheikh.
The project is designed to localize key segments of the fish and seafood value chain, enhance domestic production capacity, and improve overall supply chain efficiency.
By expanding processing capabilities within the Kingdom, the initiative aims to increase product availability in local markets while reducing dependence on imports.
Officials emphasized that the agreements align closely with the National Food Security Strategy and the National Agriculture Strategy, reinforcing long-term goals of resource sustainability and industrial self-sufficiency.
The initiative is expected to play a broader economic role by supporting private sector participation, encouraging innovation, and strengthening Saudi Arabia’s position as a regional hub for food production. The localization drive is also aligned with the target of localizing up to 85 percent of food-related industries.
The project is anticipated to enhance value chain efficiency, diversify income sources within the fisheries sector, and stimulate investment in downstream food manufacturing activities.
Authorities highlighted that such partnerships between government entities and the private sector are central to achieving the Kingdom’s Vision 2030 objectives of economic diversification and sustainable development.
