Al Mazrooei highlighted that the AAAID's investments in Egypt already amount to approximately $158 million
The Arab Authority for Agricultural Investment and Development (AAAID) has announced plans to invest $100 million into Egypt's agricultural and livestock production sectors over the next three years. Chairman Mohamed Bin Obaid Al Mazrooei announced this goal during the Gulf-Egyptian Business Forum.
Al Mazrooei highlighted that the AAAID's investments in Egypt already amount to approximately $158 million. These existing investments include a 27% stake in Fayoum Sugar Company, an 82% stake in the Arab Company for Production and Preservation of Crops, and a 5% stake in the Middle East for Vaccines (MEVAC).
By injecting an additional $100 million, AAAID aims to further enhance Egypt's agricultural and livestock production capabilities. This investment will contribute to the modernization and expansion of the sector, ultimately increasing productivity and ensuring food security for the nation.
In May 2023, The Ministry of Agriculture issued a report on total agricultural exports during the period from Jan-May 2023. The report showed that Egypt’s agricultural exports increased by more than 432K tons year on year (YoY) until May 17th in 2023, reaching 3.427 million tons, compared to 2.995 million tons.
The report indicated that the most important agricultural exports are citrus fruits, potatoes, fresh onions, sweet potatoes, pomegranates, garlic, strawberries, beans, guavas, tomatoes, and grapes.
