Saudi Arabia has nearly doubled its poultry production in the past decade as part of Crown Prince Mohammed bin Salman’s push for food self-sufficiency, to address an 80% reliance on food imports that leaves the Kingdom vulnerable to shocks. Saudi Arabia’s chicken production is growing at 6% a year — one of the fastest rates in the world, Bloomberg said, citing consultancy firm Gira.
ALSO FROM BLOOMBERG- Foreign miners seem to be more interested in taking home Saudi capital than committing their own funds towards local mining ventures, with downstream projects such as smelters and refineries also lagging behind in the local mining sector, the business information service reports. Some investors are also hesitant to pump capital into Saudi before ongoing projects prove commercial viability. “We’re at the show me stage,” Canada Nickel CEO Mark Selby said at the Future Minerals Forum.
Are we behind the eight ball on mining? “I think we have a good base, but I wouldn’t say it’s happening fast enough,” Industry and Mineral Resources Minister Bandar Alkhorayef said in an interview.