Saudi Arabia and China are set to witness an increase in investments in the aquaculture sector following discussions at the Global Investment Promotion Conference in Shenzhen, China.

Representatives from Saudi Arabia’s Ministry of Environment, Water, and Agriculture engaged with over 60 specialized Chinese firms to explore and expand opportunities, highlighting the growth potential in the Saudi aquaculture sector.

The National Fisheries Development Program, an integral part of these discussions, aims to draw USD 5 billion in private sector investment by the end of the decade. The focus is on fostering expertise exchange and encouraging private sector involvement in the aquaculture industry.

At the forefront of this initiative is the National Aquaculture Group (Naqua), the largest firm in the Middle East’s aquaculture industry. Established in 2015, Naqua plays a pivotal role in expanding aquaculture, with the goal of creating new jobs, half of which will be reserved for Saudi nationals.

The expansion of the aquaculture sector is expected to boost seafood production for export, contributing to economic growth and job creation. In alignment with Saudi Arabia’s Vision 2030 master plan to diversify the economy, the country aims to produce 600,000 tons of fish annually, generating approximately 200,000 direct and indirect jobs in the fisheries sector.