The Gulf Cooperation Council (GCC) has introduced a new regional food security strategy in response to global challenges such as climate change, natural disasters, water scarcity, and population growth. Focused on enhancing agricultural, livestock, and fishery projects, the strategy aims to add value to food industries, ensuring food security and sustainability for GCC citizens.
Faisal Al-Rawas, chairman of the Federation of the GCC Chambers, emphasized the need for developing these sectors to achieve self-sufficiency in the face of export limitations imposed by GCC governments. He highlighted various initiatives, projects, and incentives launched by GCC countries to boost investment in agriculture and livestock.
Al-Rawas stressed the importance of private sector participation in developing the strategy, particularly in agriculture, animal husbandry, fisheries, and supportive service sectors. The federation has conducted studies to enhance integration in achieving food security, with the agriculture and fisheries sectors contributing significantly to the Gulf economy.
The GCC has seen substantial investment in food technology, reaching about $3.8 billion, and the agriculture and fisheries sector contributes 1.8 percent to the gross domestic product. Additionally, the number of Gulf companies in the agricultural and livestock sector has grown to 20 percent.
In February, Juan Carlos Motamayor, CEO of Topian, a NEOM subsidiary, highlighted Saudi Arabia's potential to lead in food security by developing systems and solutions applicable globally. He emphasized the urgency of introducing new technologies to address food scarcity, aligning with a World Bank report indicating limited food access for nearly one-third of the global population.
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https://www.arabnews.com/node/2487401/business-economy
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