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.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Union Coop, a consumer cooperative in the UAE, revealed that 78% of
Union Coop has opened its 23rd branch within the UAE in Jumeirah
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE’s leading home-grown convenience store chain, ZOOM, today announced plans to open
LEGO Certified Stores – owned and operated by Majid Al Futtaim in
Subway has announced a new master franchise agreement in the UAE with
Amazon has announced the creation of 1,500 direct and indirect jobs across
adidas has announced the launch of its first store located at the
A Concept by MUSE, a new homegrown retail destination by Chalhoub Group,
UAE-based Majid Al Futtaim has announced the expansion of its people development
Direct-to-Consumer (D2C), Digitally Native Vertical Brands (DNVB), and brand.com serve as different
Furniture retailer Home Box has opened its first-of-a-kind retail outlet in the
Giordano has announced the opening of its first concept store at Zahia
Saudi-based luxury retailer, AlMalki Group recently revealed the key elements that is
Carrefour has rolled out several sustainable initiatives through partnerships with CHEP and