AAAID Invests US$664 Million In 45 Agricultural Firms To Boost Food Security In Arab Countries

The Arab Authority for Agricultural Investment and Development (AAAID) has invested US$664 million in 45 agricultural companies by the end of 2024. These investments cover food manufacturing, livestock production, crop production, and agricultural services. The latest annual report highlights the Authority's strategic efforts to boost food security across Arab nations, focusing on sectoral and geographic balance as part of the Arab food security strategy.

Dr. Obaid Saif Hamad Al Zaabi, Chairman of AAAID, stated that the 2024 performance reflects the success of initiatives under the 2024–2026 strategy. This strategy prioritises fiscal discipline, operational efficiency, and optimal resource use. He noted that ISO 37000 corporate governance standards were adopted in 2024 to enhance governance, transparency, and accountability.

Al Zaabi emphasised achieving financial governance targets through strict cost controls, improved record keeping, and optimised expenditure. He also mentioned ongoing efforts to strengthen cooperation with regional and international investment institutions to maximise returns and sustain financial resources. AAAID remains committed to launching new projects across various Arab countries.

The shareholders' council meeting approved the 2024 annual report, which reviewed AAAID's performance and projects across Arab countries. The report highlighted contributions to food security and sustainable agricultural development. Key achievements included strengthening international and regional investment cooperation, increasing investment returns, and reinforcing financial sustainability in line with the new strategic plan.

The report detailed developmental initiatives such as launching new agricultural projects and coordinating with policymakers for strategic alignment. It also mentioned advancements in corporate governance through rigorous auditing, risk management, and compliance standards. Progress was made in information systems and cybersecurity infrastructure alongside full adoption of IFRS standards.

Investment policy manuals and governance frameworks for affiliated companies were revised as part of these initiatives. The Authority's commitment to sustainable development is evident in its confidence in future growth prospects for its shareholders.

Regional Collaboration

The Arab Authority for Agricultural Investment and Development was established under a multilateral agreement involving 21 Arab member states: UAE, Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, Iraq, Jordan, Syria, Lebanon, Palestine, Yemen, Egypt, Sudan, Morocco, Algeria, Tunisia, Mauritania, Somalia, Djibouti, and Comoros.

The organisation continues to focus on narrowing the food gap in essential commodities through disciplined cost management and strategic alignment with its mandate. This approach ensures a balanced contribution towards enhancing food security across the region.

With inputs from WAM