Dubai launches the new Food Tech Valley


May 5, 2021 | By Bilal Syed

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, announced the launch of the Food Tech Valley on the 1stMay, 2021. It is an economic zone to cater for the extensive growth of the food industry by using AgTech.

The initiative is a result of a partnership between the Ministry of Food and Water Security with Wasl Properties. Food Tech Valley will help the UAE reach its National Food Security Strategy 2051 targets and triple food production. The increase in food production will allow more stock to be kept and sold by food retailers across the country.

“We launched the first phase of Food Tech Valley, a new modern & vibrant city that will serve as a global destination for start-ups and industry experts in the food ecosystem. It will host R&D facilities, innovation center, smart food logistics hub and areas for vertical farming,” HH Sheikh Mohammed tweeted.

Four clusters that make up The Food Tech Valley include the food innovation centre, smart food logistics hub, areas for vertical farming, and R&D facilities.

“The Food Tech Valley project represents an instrumental stride towards enhancing food security and will serve as a global destination for expertise in the entire food ecosystem,” said Mariam Al Mheiri, Minister of State for Food Security.

“The size of the AgTech market is projected to grow from $13.5bn to $22bn over the next four years. The project is part of our efforts to achieve our strategic national goals with respect to food security, as it constitutes an incubator for advanced farms – including indoor and vertical farms – with more than 60 per cent of the project’s space allocated to these activities,” she said.

Sheikh Mohammed also highlighted that food trade within the UAE overreaches AED 100 billion per year. UAE is also known as a global food logistics hub where the country plans to nurture the environment to work in favour of agribusinesses to further develop by introducing new farming technologies to ensure food security in the future.

 

Comments

comments

Previous Article Next Article


TRENDS



Landmark Group announces membership to WHO’s Global Diabetes Compact Forum

Landmark Group held its 12th Beat Diabetes event on Friday, 26 November, at 

Continue Reading

November 29, 2021 | By RetailME Bureau

Zebra Study: Pharmaceutical Industry has a Trust Problem

Zebra Technologies Corporation, an innovator at the front line of business with 

Continue Reading

November 17, 2021 | By RetailME Bureau




YOU MAY ALSO LIKE /



UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau




Download Images RetailME Magazine