Halal Industry

UAE firm Elite Agro partners with Khalifa Fund to make farms investment-friendly

BY Staff Writer

20 Jul 2020

News

Salaam Gateway

UAE’s Khalifa Fund for Enterprise Development and Elite Agro are partnering to increase the production capacity and operational efficiency of farms to make them investment-friendly.

The Khalifa Fund is an independent, not-for-profit economic development agency of the government of Abu Dhabi for small-to-medium enterprises. Elite Agro is a food and agricultural investment company that produces and distributes fresh vegetables and fruits. It has a presence in the GCC, Serbia and Morocco.

Khalifa Fund Acting CEO Mouza Obaid Al Nasri said in a statement on Sunday (July 19) that Elite Agro will manage and operate a number of agricultural projects in collaboration with their owners.

Khalifa Fund’s ongoing Zari’ Programme provides 88 million dirhams ($24 million) worth of financing to 88 farms. Elite Agro will work on these farms that are in Khalifa Fund’s portfolio.

The Acting CEO said she hopes the two-year agreement between the two parties will bring modern technology to the farms, encourage exchange of knowledge with regards R&D, and eventually “strengthen the engagement of UAE nationals in the fresh produce industry”.

This is one of many projects and initiatives by the UAE government as it builds on its food security. In 2017 it established a State Ministry for Food Security, which led to the UAE National Food Security Strategy 2051 formulation.

July 6: UAE buys 4,500 dairy cows from Uruguay as part of food security efforts

June 25: Dubai licenses local farms to display products at retail outlets as part of food security drive

May 8: UAE agri-tech growing with new multi-million dollar fundings for smart farms

tags:

Food Security