Saudi Arabia plans to provide agricultural firms on its stock exchange in a push to raise the monetary performance of such firms as it looks to increase financial investment in the sector.
In a joint workshop with a variety of farming firms, the Saudi Ministry of Atmosphere, Water, as well as Farming as well as the Saudi Stock Exchange discussed the plans to boost the listing of farming companies on the stock market, Saudi Press Agency reported.
Held at the ministry’s head office in Riyadh, the joint workshop in between the 3 celebrations gone over means to enhance the private sector engagement in the Saudi monetary market as part of the Vision 2030 campaigns, as well as the monetary field development program.
The workshop additionally clarified the role of the ministry in creating medium as well as big firms as well as stimulating them for public offerings as well as providing on the stock market.
This can be found in line with the ministry’s plans and also strategy to open up new markets that support structure resistant food systems within the Kingdom. In addition to this, the workshop likewise discussed means to attract personal firms from diversified economic sectors, specifically the environment, water, as well as farming, to enhance their contribution to the gdp.
The workshop highlighted the advantages of providing companies on the securities market– including dependability and also connection– along with the objectives that can be achieved via the listing of farming firms thinking about that the Saudi securities market is just one of the largest monetary markets in the center East and also North Africa and also the ninth in the world.
Last September, Saudi Arabia, in control with its regional partners, launched a food safety and security action strategy with an initial financing of $10 billion to tackle the worldwide food supply situation, the Kingdom’s Minister of Environment, Water and also Agriculture said.
Speaking at a meeting of G20 agriculture ministers in Indonesia, Abdulrahman Al-Fadhli claimed the Kingdom will continue its function in aiding stabilize the global food production supply chain.
On the residential front, he included, the Kingdom has likewise been successful in decreasing the use of water for farming purposes by greater than 40 percent, the Saudi Press Firm estimated him as stating.
Al-Fadhli likewise highlighted the Kingdom’s success in the farming market, which according to him, expanded by greater than 7.8 percent in 2022 contrasted to the previous year.
Last Updated: 30 January 2023
