Environment minister oversees financing deals to boost Saudi date sector
Saudi Arabia signs new financing agreements to strengthen the palm and date industry and enhance its contribution to the national economy.
Key Takeaways
AIMinister of Environment, Water and Agriculture and Chairman of the National Center for Palms and Dates, Abdulrahman Al-Fadley, on Monday oversaw the signing of several financing agreements between the center and financial institutions at the ministry’s headquarters in Riyadh. The deals were signed on the sidelines of the Palm and Dates Sector Financing Forum, which aims to provide financial solutions to the sector in Saudi Arabia, supporting increased investment in this vital industry in line with the goals of Saudi Vision 2030.
The forum serves as a key economic platform, bringing together government funding bodies, public funds, and private financing companies to facilitate access to financial products and services for beneficiaries. This initiative is expected to help develop the palm and date sector, improve its production and marketing efficiency, and strengthen its contribution to the national economy.
Significant growth in date exports
Ahmed Al-Mousa, CEO of the National Center for Palms and Dates, said the forum comes amid notable progress in the sector, with significant increases in the value of date and date product exports. He noted that the sector has become increasingly attractive for investment expansion, generating greater economic returns and enhancing the agricultural sector’s contribution to GDP.
Al-Mousa added that the forum features broad participation from both government and private financing entities, making it an ideal platform that offers a range of financing options for farmers, producers, and date exporters.
Saudi leadership in date production and exports
Initiatives and programs by the National Center for Palms and Dates have supported numerous national date companies and boosted the presence of Saudi date products in major global retail markets. This has helped Saudi Arabia maintain its global leadership in date production, manufacturing, and exports, ranking first in export value for the fourth consecutive year.