Specialists to "Asharq Al-Awsat": National companies are able to produce multiple options for food industries and consumer goods
Specialists in the business of the private sector have acknowledged the ease of obtaining alternatives to Turkish products, stressing that Saudi Arabia has a major industrial value that covers the sectors of food, building materials, equipment, and the manufacture of consumer goods and products capable of enhancing the local value and covering any deficit of imports for any reasons that may occur or future disputes resulting from a change in Economic policy directions.
According to specialists, it sends reassuring messages to the domestic market to the consumer at home, especially after an actual experience during the Coronavirus pandemic and how the government and the private sector were able to face the crisis and provide all commodities, especially the main ones, with stable prices in the market without a shortage of supply, which strengthens the strength The market is facing the results of the recent popular campaign to boycott Turkish products in Saudi Arabia, which witnessed interaction from various institutions and companies operating in different commercial and industrial sectors.
These companies and institutions realize the value of the Saudi economy and its strength in finding alternatives to specific products coming from Turkey, which, according to an official in the Saudi Chambers, were exposed to expected losses estimated at about 20 billion dollars as a result of the popular boycott in the Arab region, and these companies also realize the growth of local industrial capacity in various sectors, including The food industry sector, which has increased local, regional and international demand for Saudi food products, especially with the spread of seafood, dates and halal foods.
One of the good indicators in any economy is the growth of the industry in different sectors, which will be reflected in the local market in providing products that compete for all incoming goods, in the case of Turkish goods and the subsequent large boycott, as these local products can become the most appropriate alternative, especially as the products imposed their presence in Global markets including different foods.
Here, recent statistics indicate that the number of existing industrial facilities and under construction until the end of last June reached 9,211, including nine factories for chemicals and chemical products, nine for the manufacture of food products, and another for the manufacture of electrical equipment and clothing, and the same for the furniture industry and also for other manufacturing industries. The number of factories for wood and its products and cork, excluding furniture and making varieties of straw, reached four major factories, the same for base metals, and also four factories for beverages, factories for the manufacture of computers and electronic and optical products, and the printing of motor vehicles and trailers and semi-trailers.
The ongoing growth in the establishment of factories enhances Saudi Arabia’s ability to control the local market and provide the necessary products, with the penetration of global markets, specifically in Halal foods, which are valued at $ 1.3 trillion globally.
The local food industries sector is characterized by an advanced, ready-made environmental system that meets the high standards and increasing requirements of the expanding market, which confirms the Saudi investor’s confidence in the food industries sector due to its excellence and fruitful potential.
For his part, Dr. Luay Al-Tayyar, a specialist in the business sector, says that stopping importation from Turkey directly affects the Turkish economy, because the Saudi market for Turkish products is the largest in various sectors, including “clothes, furniture” and other products, and these losses, according to the pilot. It will pose a heavy burden on political leaders in confronting the local community.
The pilot pointed out that the boycott will open the Saudi market to other destinations such as India, Malaysia, and Egypt, which have the same specifications in these products, which makes the Turkish product among the competitors and not the only one, explaining that this popular trend in the boycott will open new industries at home, including « Furniture and furniture », as it will generate new projects waiting for investors to establish modern industries, and today the opportunity is ripe for that.
The pilot stressed that Saudi Arabia is one of the countries that maintains the strength of its economy despite the external influences from a decrease in oil prices in global markets, and the Corona pandemic has proven that it is able to face the challenges without any negative repercussions, which is reflected in the strength of specialized industries in facing any changes and providing What the Saudi market needs from commodities under any circumstances.
“The opportunity is available for an opportunity for additional and qualitative investment … It will also open new horizons for local consumption based on quality and price stability, and also generate inverse investment fields in those countries, especially since Saudi investors in Turkey have refrained from investing there because of the intransigence of the Turkish government and its complex dealings,” he added.
On the other hand, food sources in Saudi Arabia vary, starting from the bordering seas, where nearly five million tons of fish live permanently, which made Saudi Arabia a permanent source of seafood for the European Union, and has the ability to increase production and satisfy the hunger of the foreign export market, which is an indication of the guarantee of Market safety from any external influences.
Shrimp, mackerel and crabs are at the forefront of the demand for seafood, in addition to the high domestic demand, which is expected to grow by about 8 percent annually until 2030, with an increase from 310 tons to 865 tons. This is due to population growth at a compound rate of 2 percent and an increase in a compound annual growth rate per capita of 5 percent.
The manufacture and packaging of dates is one of the advanced industries, and the annual date harvest at the global level is estimated at more than 6 million tons, of which Saudi Arabia produces more than 1.1 million tons per year, and this places it among the top 3 global producers of dates with a market share of 18 percent.
The number of palm trees in Saudi Arabia is estimated at about 25 million, covering an area of 157 thousand hectares of the kingdom’s lands, and with more than 300 types of dates, which makes the increase in production rates keep pace with the rise in global demand in parallel.
On the agricultural side, Saudi Arabia has achieved what it is seeking to reach high rates of self-sufficiency, as it has achieved a surplus in various crops, including potatoes, eggplant, cucumbers, okra, and various types of fruits in addition to eggs and milk, and the number of permanent trees (excluding date palms) reached about 26. One million trees, including more than 18 million fruit trees, the production of which exceeded 600 thousand tons.
Here, Marwan Al-Sharif, a Saudi economist, says that the changes on the economic map on the Turkish side, after the popular campaign in boycotting consumer products, will enhance the capacity of local industries specializing in furniture and luxuries and are able to cover any deficit in the next stage, and the local market will open its doors to products. With high quality and competitive prices for the Turkish product.
Al-Sharif added that the diversification of the Saudi economy, specifically on the side of the main and transformative industries, is an important factor and a force that I have relied on in all the crises, the latest of which was the Corona pandemic, adding that the local product in food and other industries has won the bet in global markets, as a result of the high standard quality.
Al-Sharif added, “These indicators confirm the strength of local factories to provide all commodities, and that merchants have a role at this stage to direct their investment compass to other countries that offer the product at preferential prices.”
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