SAUDI ARABIA – Saudi Arabia and Oman are leading a fresh wave of investment in the Gulf’s aquaculture industry, as increasing regional fish consumption gives investors a big opportunity to capitalise on the fastest growing food processing sector in the Middle East, said experts.
In December 2013, the Saudi Arabian Ministry of Agriculture said it would inject an additional $10.6 billion into aquaculture projects to produce one million tons of fish in the next 16 years, while Oman, which has long been at the forefront of aquaculture in the Gulf region, announced that it plans to invest $1.3 billion in fisheries development up to 2020, they stated.
The UAE, which has the world’s largest sturgeon fish farm in Abu Dhabi, also has big plans, with the country’s Ministry of Environment and Water expected to announce several multi-billion dollar aquaculture projects in the coming months, said the experts ahead of a key industry event, TradeArabia reports.
Courtesy of TheFishSite.com
Recent Comments