Home Industry Food UAE’s Elite Agro, Khalifa Fund partner to enhance food security The MoU has been developed to manage and operate a number of protected farms that fall under the ambit of the Khalifa Fund by Zainab Mansoor July 20, 2020 UAE’s food and agricultural investment organisation Elite Agro and Khalifa Fund for Enterprise Development announced the signing of a two-year Memorandum of Understanding (MoU) to boost food security levels. The MoU has been developed to manage and operate a number of protected farms that fall under the ambit of the Khalifa Fund, with the aim of increasing their production capacity and operational efficiency by introducing innovative agricultural technologies, official news agency WAM reported. “This agreement will promote the spirit of entrepreneurship amongst Emirati farmers while contributing to food security in the UAE. Through the ongoing Zari’ programme, Khalifa Fund provided Dhs88m worth of financing to 88 farms that use innovative water technology. This agreement is a major step towards achieving our goal to foster entrepreneurship in the agricultural industry, providing the necessary support and funding for farmers to operate successful businesses,” said Mouza Obaid Al Nasri, acting CEO of Khalifa Fund for Enterprise Development. She added, “Our two-year agreement will allow farmers to benefit from the vast experience of Elite Agro, as well as play an instrumental role in bringing modern technology to those projects. It will encourage the exchange of knowledge pertaining to research and development in the produce industry, organise scientific and technical meetings surrounding innovation and tech in agriculture, and strengthen the engagement of UAE nationals in the fresh produce industry.” The value of UAE food products traded in Q1 2020 totalled Dhs31.7bn, according to figures released by the Federal Competitiveness and Statistics Authority. Read: UAE food products trade amounted to Dhs31.7bn in Q1 2020 In recent times, the UAE has undertaken a series of measures to boost its food security levels and to ensure an uninterrupted food supply chain. The Gulf nation imported 4,500 dairy cows from Uruguay as part of a similar drive. Also read: UAE buys thousands of Uruguay dairy cows to boost food security The country is also looking to farm rice to reduce its reliance on purchases from abroad. Read: UAE’s food security initiatives: Growing rice in the desert Tags Elite Agro Food Security Investment Khalifa Fund for Enterprise Development UAE 0 Comments Share Tweet Share Share You might also like The SME Story: Lenka Basweidan, founder of Arabee Learning UAE updates quarantine rules for federal government employees Biggest investment trends to watch out for in 2021 Phi Trends: Cleantech – ideology or opportunity?