Saudi investment authority participates in SIAL Paris 2018

SAGIA participates in SIAL Paris 2018. (SPA)

• Participating Saudi entities included the Modon and the Saudi Industrial Development Fund
• Saudi Arabia’s ambassador to France visited the pavilion, where he expressed admiration for the competitive quality of Saudi products

JEDDAH: The Saudi pavilion at this year’s SIAL (Salon International de l’Alimentation) 2018 in Paris took as its theme “Invest in Saudi Arabia.” The Kingdom was represented by the Saudi Arabian General Investment Authority (SAGIA) at what is one of the food industry’s largest specialized exhibitions, with more than 160,000 visitors this year.
Participating Saudi entities included the Saudi Authority for Industrial Cities and Technology Zones (Modon), the Saudi Industrial Development Fund, the Ministry of Environment, Water and Agriculture, and the National Center of Palm and Dates. They all highlighted the services provided to investors in the Kingdom. The food industry is the most attractive sectors for investment in the Middle East, with an annual growth rate of 6 percent.
Saudi Arabia’s ambassador to France, Khalid bin Mohammed Al-Angari, visited the pavilion, where he expressed admiration for the competitive quality of Saudi products. 
Mazen bin Omar Al-Jasser, of Saudi Exports, stressed the importance of investing in foods in the Kingdom. The Saudi exports in the food sector reached SR14 billion ($3.73 billion) in 2017 and the food sector ranked fourth on the list of non-oil Saudi exports the same year. 
Dairy products, baked goods, sweets, fruit juices and beverages represent 63 percent of food exports. The Gulf and neighboring Arab markets, including the UAE, Kuwait, Jordan, Bahrain, Yemen and Iraq, are among the largest importers of foods from the Kingdom. 
Al-Jasser added that the value of exports in 2017 reached SR1.3 billion ($346.5 million) for fruits and vegetables, SR526 million ($140 million) for grains and SR703 million ($187 million) for dates, including re-exportation. He noted that there is a great opportunity for Saudi products in the international market, especially the sector of dates, since the Kingdom is among the world’s largest producers of dates.