Date: 14 Sep, 2017
HE Mr. Mohamed bin Obaid Al Mazrooei, President and Chairman of AAAID, participated in the Seminar on Investment Prospects in Food Security under the theme “Opportunities and Challenges” organized by the Oman Chamber of Commerce and Industry (OCCI), represented by Food Security Committee, in cooperation with OCCI Branch in the Governorate of Dhofar. The seminar was sponsored by Mr. Sayyid Mohammed bin Sultan Al Busaidy, Minister of State and Governor of Dhofar.
The Arab Authority’s participation focused on highlighting the most important investment opportunities in the areas of food security and the challenges faced by the private sector to invest in food security projects.
The seminar aimed at highlighting the importance of food security and its active role in societies, emphasizing the most important opportunities for investment in this sector, identifying the challenges and problems facing investment in food projects, and reviewing some successful experiences inside and outside the Sultanate of Oman, and through sharing experiences and knowledge in food security.
The President of the Arab Authority, H.E Mr. Al Mazrooei presented a working paper titled “The efforts of the Arab Authority for Agricultural Investment and Development”, which offered an overview of the Arab Authority and its objectives as well as distribution of its investments, capital and projects. He also discussed the investments of the Arab Authority in Oman and its projects that are under implementation and investment opportunities. He added that Oman contributes 0.07% of the paid up capital of the Arab Authority, equivalent to USD 424 thousand, while AAAID’s investments in the Sultanate are estimated at RO 17.8 million (equivalent to USD 47 million). These investments consist of the project of the mother of broiler chickens and the production of hatching eggs, with a target of producing 150 million fertilized eggs annually at an investment cost of RO 62 million. Additionally, Al Bashaer Meat Company, which aims to produce around 28,000 tons of red meat with high specifications for the Omani market and the Gulf countries, replacing meat imports with local meat with reliable sources and stabilizing the markets of red meat. Al-Murooj Dairy Project in the Dhofar Region (under implementation). It aims at the collection and production of milk, butter, cheese and other dairy products, pasteurization, sterilization and packing of milk and fresh milk and processing dairy products as well as sweetened and natural products.
In conclusion, the seminar recommended the importance of a specialized entity to clear all procedures and provide the necessary data for food investment. It also recommended providing a package of investment incentives to the private sector to attract investment in the Sultanate of Oman in projects that produce basic food commodities.