On the sidelines of the workshop held by Ministry of Agriculture in cooperation with Saudi Aquaculture Society and FAO entitled "Future Trends towards Insuring Aquaculture Projects in KSA"

HE Undersecretary of Fisheries Affairs Eng. Jaber Al-Shehri assures that "Aquaculture is new for insurers and we are working to bridge the gap between insurers and investors in aquaculture field as well as educating insurers about such industry and explaining for investors what insurers can do for them."

HE confirmed that Ministry of Agriculture seeks to raise the kingdom's production of fish products from 100 tons/year to one million tons/year over the coming 16 years. He also added that aquaculture projects are huge with good budget. There are no small projects threatening such industry.

In addition, he explained that the local market is free from any fish unfit for human use and referred to the coordination between Ministry of Agriculture and Ministry of Commerce and Industry and Food and Drug Administration in controlling fish imported from out of KSA to keep consumer safety.

He added "Ministry of Agriculture seeks to develop fish farms and develop their productive capacities, develop the researches related to aquaculture, set up more laboratories specialized in aquaculture safety and health, improve the economic and marketing sufficiency, and support the local product of cultured fishes.

On his part, Chairman of Saudi Aquaculture Society Eng. Ahmed Al-Ballaa confirmed that the most significant obstacles facing aquaculture investment include lack of understanding by the government and consumer about aquaculture investment. He also added that aquaculture in the kingdom is ambiguous and that lack of information is a main reason for hindering aquaculture projects insurance.

Eng. Al-Ballaa revealed a public program to support aquaculture projects valued eight billion Saudi riyals including insurance on the sector and training youth and 35 billion Saudi riyals from the private sector via facilitated loans from the state. He said that this program is raised for the royal authorities for approval.