Saudi Arabia invests in aquaculture in anticipation of the end of oil
01/01/2022 Saudi Arabia is getting into the aquaculture sector to diversify its economy for a transition to a post-oil economy.
With this plan entitled "Vision 2030", the objective is to multiply by 5 the production of the Saudi aquaculture sector by 2030. Being one of the sectors with the highest growth rate on a global scale, the aquaculture accounts for more than 50% of the world's seafood supply.
In recent years, Saudi Arabia has experienced strong growth in the aquaculture sector. According to the Deputy Minister of Agriculture, Ahmed Aleyada, in 2015, the country produced 30,000 tons of food from this sector. In five years, production has more than tripled since it reached the 100,000 tonne mark in 2020.
With the Vision 2030 project, the Saudi government hopes to exceed 600,000 tonnes of production from aquaculture. With this strong growth, the second objective is to preserve the ecosystem of the Red Sea, or even repair it.
“Our goal will be to try to breed local species to help regenerate the ecosystem and provide seafood originating from the Red Sea to our customers,” the Saudi official said.