Dubai has launched the first phase of Food Technology Valley in Emirate, a new initiative aimed at promoting food security.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai launched a new development project in Dubai to support agritech and food security.
Sheikh Mohammed tweeted that “the UAE’s food trade exceeds $27.2 billion annually. Our country is a global food logistics hub, and we will work to create a nurturing environment for agribusinesses to develop new farming technologies and enhance our future food security.”
Food Technology Valley is the latest initiative to promote Dubai as a specialized city, and it will assist in attracting global agricultural and food brands. A research center, corporate headquarters, logistical stores, and vertical and water cultivation areas will all be part of the project.
Sheikh Mohammed added a tweet that “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 Research and Development (R&D) facilities, innovation center, smart food logistics hub and areas for vertical farming.”
Dubai’s food trade hit $14.1 billion
Dubai’s external food trade reached $14.1 billion in 2020, with demand continuing to rise in the wake of the COVID-19 pandemic. Imports totaled $9.4 billion, with exports and re-exports reached $2.7 billion and $1.9 billion, respectively.
Food trade weighed 17 million tonnes last year, with 12.5 million tonnes of imports, 3.1 million tonnes of exports, and 1.3 million tonnes of re-exports