The Arab Authority for Agricultural Investment and Development participates in the Annual Investment Meeting

Date: 20 Oct, 2020

Location: ملتقى افتراضي

The Arab Authority for Agricultural Investment and Development remains keen on participating in activities that support the process of reaching food security and strengthening its relationship with investment and agricultural development partners.

In this context, His Excellency Mr. Mohammed bin Obaid Al Mazrooei, President of the Arab Authority for Agricultural Investment and Development (AAAID) participated in the Digital edition of the Annual Investment Meeting, held during the period 20-22 October 2020,  Dubai, United Arab Emirates. The event was under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

During the event, H.E Mohammed bin Obaid Al Mazrooei, President of the Arab Authority, gave a speech as a keynote speaker during a special virtual session entitled Agricultural Investment during and after Covid-19, through which H.E introduced the Arab Authority’s projects and activities and the companies in which AAAID contributes and its involvement to reinforcing  food security, development programs . As well as the Arab Authority’s activities in the field of Agricultural investment and partnerships with the public and private sectors represented by the Emirates Rawabi Company, Al Faiyoum Sugar Works Company, and Al Marga for Cattle and Agricultural Development Company. H.E further emphasized the importance of expanding agriculture with the use of modern agricultural technologies to cope with the increase in global demand for food, noting that the expected number to be fed by 2050 is about 2.3 billion.

His Excellency explained that the Arab Authority has realized the importance of a segment of small farmers and producers and their role in enhancing food security, whereby AAAID has initiated a revolving loans program targeted at this segment with the aim of increasing production and improving productivity and thus their contribution to enhancing food security. The program achieved notable results that include increasing crop productivity by 61% and increasing the number of beneficiaries from the program, reaching 151,200 beneficiaries for the period 2013-2019. In addition to providing direct and indirect job opportunities. H.E also explained that AAAID paid attention to rural women by activating their role in food production and improving their standard of living. The total number of beneficiaries during the period 2013-2020 reached 3412, and women have demonstrated their keenness and commitment to work.

His Excellency, the President of AAAID, then affirmed that the successes achieved through the revolving loan fund program to finance small scale farmers and producers show that the fund is the most optimal way to develop and increase agricultural production, calling on Arab, regional and international organizations and institutions to contribute to this fund. The authority also participated in the event through the virtual round table meeting for agricultural investment led by the Islamic Development Bank Group, which aimed to discuss the best agricultural investment models and highlight areas for preparing agriculture to promote foreign direct investment. AAAID also participated in the Investors Hub through a special virtual booth. The Hub provided a platform for representatives of major investment companies, development banks, funds and portfolio investors, and facilitated the possibility to communicate with participants who want to know more about AAAID in addition to linking companies that wish to cooperate in the field of agricultural investment and its related activities.