Page 43 - MOE ENGLISH PR REPORT- NOVEMBER 2024

Press Release

Minister of Economy tours two food sector companies, emphasizes

the need to boost industry’s competitiveness

H.E. Bin Touq highlights UAE’s efforts to establish a competitive business
environment in line with global standards during visit to Zabeel Feed and Global
Farms

Abu Dhabi, 18 November 2024:

As part of the Ministry of Economy’s Economic Engagement initiative, H.E. Abdulla bin Touq Al
Marri, Minister of Economy, visited two food sector companies with an aim to boost collaboration
with the country’s private sector. During the visit, the companies were briefed on leading national
policies and strategies including the economic clusters strategy, which seeks to promote the
national economy’s sustainability, competitiveness and growth.

The Minister of Economy visited Zabeel Feed, a leading producer of high-quality animal feed, and
Global Farms, an agricultural enterprise leveraging advanced technology to produce fresh fruits in
line with globally recognized standards.

H.E. Bin Touq affirmed that the UAE prioritizes the development of forward-looking policies that
align with advanced global standards and support the growth of new economic sectors, including
food production. This approach furthers the nation’s economic diversification goals and enhances
its competitiveness on both regional and global stages.
Moreover, H.E. emphasized that the economic clusters model is poised to play a key role in the
UAE’s economic strategy for the future, with the food cluster being a top priority. The Ministry
of Economy, in collaboration with its partners, is advancing the implementation of this initiative
by creating geographically concentrated hubs for interconnected industries and institutions. The
development of this robust and adaptable economic model that blends competition with
collaboration will help achieve the UAE’s goal of building a sustainable food ecosystem.
The food cluster strategy aims to ensure self-sufficiency in food production and enhance the food
ecosystem management through supporting agricultural enterprises and increasing local
production. The initiative aims to meet local market needs, position the UAE as a leading food
exporter to key regional and global markets, and support the goals of the 'We the UAE 2031' vision,
such as increasing the national GDP to AED 3 trillion by the next decade.