Arab News, Saturday , Aug 19, 2023 |
Safar 03, 1445
Agricultural Development Fund and GASTAT forge data-sharing collaboration
RIYADH: In a
significant step toward leveraging data for shared objectives, a memorandum
of cooperation was formalized between the Agricultural Development Fund and
the General Authority for Statistics in Riyadh on Thursday.
This agreement centers on the exchange of data, information, and statistical
indicators relevant to the economic activities overseen by ADF, according to
the Saudi Press Agency
The data sharing adheres to the guidelines and privacy regulations
stipulated by the National Data Management Office, which is responsible for
establishing data policies and standards.
Furthermore, the collaboration aims to facilitate mutual consultations,
support, and knowledge exchange across various fields of common interest.
This encompasses areas like periodic research and ongoing studies.
It also provides the employees of the two entities with the opportunity to
participate in development courses, seminars, scientific conferences, and
workshops provided by the two signing sides.
According to NDMO, government data represents a national asset that can
enhance performance and productivity and facilitate public service delivery.
This can be achieved by instituting effective data management practices,
establishing the highest data accountability and transparency levels, and
leveraging data to extract insights and support strategic decision-making.
The office added that nations worldwide are harnessing the value of data as
a vital economic resource for unlocking innovation, driving economic growth
and transformation, and improving national competitiveness.
In its 2020 National Date Governance Interim Regulations, the office further
stated that government entities in Saudi Arabia collect and process vast
amounts of data that can contribute to national economic prosperity and
leadership among global data-driven economies.
As part of Saudi Arabia’s ongoing efforts to enhance food security, the ADF
has recently signed financing contracts worth SR926 million ($246.8 million)
in the feed industry, and animal production and dairy sectors.
These contracts aim to support importing key agricultural products,
including maize, soybeans, and barley, that are vital for sustaining the
Kingdom’s food supply.
The agreements encompass a range of projects, including initiatives such as
establishing an agricultural product marketing center, cold storage
facilities, and a broiler and poultry farming project.
In June, the fund provided funding of SR1.5 billion to local farmers,
primarily supporting greenhouse vegetable production, poultry breeding, and
fish and shrimp farming.
The loans also extended support to refrigeration warehouses and date
manufacturing and marketing centers.
These loan approvals underscore the fund’s commitment to its developmental
and financing role in the agricultural sector, aligning with the Ministry of
Environment, Water and Agriculture’s policies and the Kingdom’s overarching
food security strategy.