‘Six-month food stock needed’ for security

Updated 07 January 2013
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‘Six-month food stock needed’ for security

JEDDAH: Saudi Arabia is not self-sufficient in most strategic food commodities because of limited water resources, a scarcity of arable land and the growing population, said Khalid Al-Rwais, supervisor of the King Abdullah Chair for Food Security.
In an interview with Al-Eqtisadiah newspaper, Al-Rwais stressed the fact that the Kingdom needs to establish a secure and strategic stock of basic commodities to avoid any future food crisis.
"The world is facing a significant shortage in basic food commodities accompanied by an increase in demand. This has led to a sharp rise in the prices of goods and food in general," said Al-Rwais.
He pointed to the problems caused over the past two years in many parts of the world by adverse natural conditions, the effects of climate change, drought and recurrent frost formation. This caused the destruction of large grain fields in some major agricultural countries such as Australia, China, Argentina and India, which in turn affected the supply of food grains and a resultant spike in global prices.
"It has become necessary for the Kingdom to achieve food security by maintaining a strategic stock of wheat, rice, vegetable oil, sugar, meat and poultry that is enough for domestic consumption for at least six months," he added. He said some countries exporting agricultural products impose high tariffs and set up restrictions on exports in times of shortages.
He said stocks are determined by local production, imports and agricultural investments abroad. He referred to Custodian of the Two Holy Mosques King Abdullah's order to the Cabinet to ensure an adequate provision of food in the Kingdom in the short, medium and long term. This is to counter emergencies, in light of the unstable military, political and economic conditions in the Middle East.


Vox Cinemas wins second license to operate movie theaters in KSA

Updated 23 April 2018
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Vox Cinemas wins second license to operate movie theaters in KSA

  • Al-Futtaim Group to invest SR2 billion to open 600 screens and provide 3,000 jobs in the next five years
  • Vox Cinemas is the largest cinema operator in the MENA region

JEDDAH: Vox Cinemas, a subsidiary of Majid Al-Futtaim Group, won the second license to operate cinemas in the Kingdom.

The company received the license from the Minister of Culture and Information and Chairman of the General Authority for Audiovisual Media, Awwad bin Saleh Al-Awwad.

Al-Futtaim Group will invest SR2 billion to open 600 screens and provide 3,000 jobs in the next five years.

This will help achieve the goals of the Kingdom’s 2030 Vision when it comes to diversifying the economy and local production.

Vox Cinemas is the largest cinema operator in the MENA region and the leading regional cinema operator in the Kingdom.

Al-Futtaim Group is planning on opening its first movie theater in the Kingdom during the coming days. It will be in Riyadh Park Mall within the largest Magic Planet Family Entertainment Center in the region.

It consists of four screens, including the first IMAX screen for young people's movies and VOX KIDS, which is dedicated to children’s entertainment.