Goal 2030: Saudi Arabia revolutionises the aquaculture sector – Saudi Arabia has outlined an ambitious goal to expand its aquaculture sector by 2030. This move is part of a government-led socio-economic development project called Vision 2030, which aims to achieve several goals, including self-sufficiency in seafood production.
Despite access to rich fishing grounds along the Red Sea and Arabian Gulf coasts, Saudi Arabia faces a supply deficit in the domestic seafood market. In 2020, the country imported around 215,000 tonnes of seafood products, and this consumption is steadily growing.
Within the framework of Vision 2030, the Ministry of Environment, Water and Agriculture plans to achieve an annual production of fish and seafood of 600,000 tonnes. The National Aquaculture Group (NAQUA), the country’s largest aquaculture company, is a key player in this effort. The company has announced ambitious plans to increase its production from 60,000 to 250,000 tonnes by 2030, thus contributing to 42% of the country’s production targets.
This growth plan has been greatly catalysed by a recent partnership agreement with the Saudi Agricultural and Livestock Investment Company (SALIC), which manages Saudi Arabia’s Public Investment Fund (PIF). SALIC acquired a 42% stake in NAQUA, demonstrating a strong commitment to the domestic aquaculture sector and the growth of fish production.
This agreement is a significant step towards consolidating Saudi Arabia as a major player in the global aquaculture sector. The strategy is aimed not only at achieving the goal of self-sufficiency in seafood production, but also at maximising economic opportunities and ensuring greater food security for the country.
Goal 2030: Saudi Arabia revolutionises the aquaculture sector