Recycling by 2035 will contribute to an annual income of $32bln in Saudi Arabia

Recycling by 2035 will contribute to an annual income of $32bln in Saudi Arabia

RIYADH — The Deputy Minister of Environment, Water and Agriculture Eng. Mansour Bin Hilal Al-Mushaiti said that the estimates of the National Center for Waste Management (MWAN) indicate that in 2035 recycling will contribute to an income of about SR120 billion annually.

Eng. Al-Mushaiti made these remarks during his speech at a symposium entitled (Circular Economy) organized by the Riyadh Economic Forum. He added, according to a study by the World Bank the annual environmental burden on the economy has cost about SR86 billion annually.

Among the costs of the annual environmental burden on the economy, Eng. Al-Mushaiti said that 8 billion of them are the result of mismanagement of waste, which does not currently exceed 5%.

He also stressed that the circular economy is considered as one of the priorities of the environment system to achieve sustainable economic growth, in addition to preserving the environment and reducing pollution in accordance with the Vision 2030’s objectives.

"Maximizing the benefit of resources by reducing consumption, avoiding waste, reusing or recycling waste, will contribute to transforming waste into a useful wealth instead of being an economic, environmental and health burden," Eng. Al-Mushaiti noted.

Since the establishment of the Ministry of Environment, Water and Agriculture (MEWA) in 2016,