"Arab Investment Authority" and"Kuwait Investment Company" They enhance multi-sectoral investment cooperation
Dubai, December 22 / WAM / The Arab Authority for Agricultural Investment and Development and the Kuwait Investment Company signed a memorandum of understanding to enhance multi-sector investment cooperation, in a way that supports food security efforts in the Arab region, and focuses on innovation and sustainability in the agricultural sector.
The memorandum was signed at the Authority’s main office in Dubai by His Excellency Dr. Obaid Saif Hamad Al Zaabi, Chairman of the Board of Directors of the Arab Authority for Agricultural Investment and Development, and Fawaz Suleiman Al-Ahmad, CEO of the Kuwait Investment Company.
The memorandum of understanding aims to enhance joint cooperation and open new horizons for sustainable investments, by expanding the scope of the investment partnership between the two sides and establishing institutional and organized mechanisms for exchanging data and information related to investment opportunities available within the State of Kuwait, allowing the two parties to study potential projects in accordance with the highest professional and investment standards, and enhances the efficiency of making investment decisions with a common economic and development return.
The memorandum also includes examining the possibility of the Kuwait Investment Company contributing to the projects of the Arab Authority for Agricultural Investment and Development, whether existing or future, in addition to exploring investment opportunities in products, assets and investment funds managed or offered by the Kuwaiti company.
On this occasion, His Excellency Dr. Obaid Al Zaabi said that the signing of the memorandum of understanding comes in line with the Authority’s vision aimed at promoting sustainable agricultural investments in Arab countries and opening new horizons for strategic partnerships, pointing out that cooperation with the Kuwait Investment Company will contribute to the development of projects with a significant economic and development impact, especially in the areas of agricultural production and modern technologies that support food security.
For his part, Fawaz Sulaiman Al-Ahmad said that this memorandum represents an important step towards expanding the company’s investments in vital productive sectors, especially the agricultural sector, which constitutes a basic pillar of food security in the region. He looks forward, through this partnership, to diversifying the company’s investment portfolio and supporting the process of sustainable development in the State of Kuwait and the Arab world.
Al-Ahmad added that the partnership will contribute to exchanging technical expertise between the two sides, and attracting modern technologies in various stages of agricultural production, in a way that supports improving the efficiency of operations and raising the quality of products, in addition to encouraging local and international investments in promising agricultural projects inside and outside Kuwait, and promoting the development of agricultural value chains.
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