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FINANCIAL NEWS
Saudi Arabia eyes $12.3b investment in agriculture
06 Jul 2010
(MENAFN) The agriculture sector in Saudi Arabia is expected to generate $12.3 billion investment opportunities for national and international investors to fund the country?s various agricultural projects in 2010, according to a high-ranking official of Riyadh Exhibition Company (REC).
Investment prospects in Saudi Arabia?s agriculture sector have improved significantly as a result of government initiatives to develop key infrastructure facilities, particularly in the area of water networking, said Khalid Daou, REC?s Saudi Agriculture Project Manager.
Moreover, the agriculture industry has sustained a robust annual growth of up to eight percent, creating a truly vibrant market for various agricultural products, technology and services, he said.
The Saudi government?s expenditure figure that has been a crucial factor for driving investors? interest in the agriculture sector stood at $12.3 billion allocated for the agriculture, water and infrastructure sectors, representing a 30 percent increase compared to last year.
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