ABU DHABI, 6th May, 2025 (WAM) - The Arab Authority for Agricultural Investment and Development (AAAID) reported a total investment of US$664 million in 45 agricultural companies by the end of 2024, according to its latest annual report.

The investments span four key sectors: food manufacturing, livestock production, crop production, and agricultural services.

The report highlighted the Authority's successful implementation of a strategic plan aimed at enhancing food security across Arab countries, with a focus on sectoral and geographic balance in line with the Arab food security strategy. It emphasised disciplined cost management and strategic alignment with its mandate to narrow the food gap in essential commodities.

Dr. Obaid Saif Hamad Al Zaabi, Chairman of AAAID, said the 2024 performance demonstrates the effectiveness of the initiatives set under the 2024-2026 strategy, which emphasises fiscal discipline, operational efficiency, and optimal resource utilisation.

He noted that the Authority adopted ISO 37000 corporate governance standards in 2024 to ensure effective governance, transparency and accountability, and to strengthen the efficiency of operational processes.

Al Zaabi affirmed that financial governance targets were achieved by applying strict cost controls, improving record keeping, and optimising expenditure. He also highlighted ongoing efforts to enhance cooperation with regional and international investment institutions to maximise returns and sustain financial resources.

He reiterated AAAID's commitment to launching new projects across various Arab countries, reflecting the organisation's confidence in future growth prospects and its dedication to sustainable development for its shareholders.

The Authority's latest shareholders' council meeting approved the 2024 annual report, which reviewed its performance and projects across Arab countries. The report underscored its contributions to food security and sustainable agricultural development.

Among the key achievements in 2024 were the strengthening of international and regional investment cooperation, increased investment returns, and reinforced financial sustainability in line with the new strategic plan.

The report also detailed developmental initiatives, including efforts to launch new agricultural projects, meetings with policymakers for strategic coordination, and advancement in corporate governance through rigorous auditing, risk management, and compliance standards.

It also highlighted progress in information systems and cybersecurity infrastructure, full adoption of IFRS standards, and the revision of investment policy manuals and governance frameworks for affiliated companies.

The Arab Authority for Agricultural Investment and Development was established under a multilateral agreement and includes 21 Arab member states: the UAE, Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, Iraq, Jordan, Syria, Lebanon, Palestine, Yemen, Egypt, Sudan, Morocco, Algeria, Tunisia, Mauritania, Somalia, Djibouti, and Comoros.