AAAID plans to invest $100M in Egypt over 3 years

CAIRO – 23 November 2023: 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 revealed this goal during the Gulf-Egyptian Business Forum.

AAAID's current investments in Egypt amount to approximately $158 million, Al Mazrooei highlighted. These existing investments include a 27 percent stake in Fayoum Sugar Company, an 82 percent stake in the Arab Company for Production and Preservation of Crops, and a 5 percent stake in the Middle East for Vaccines (MEVAC).

AAAID aims to further enhance Egypt's agricultural and livestock production capabilities through its investment, which 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.