Abu Dhabi Seeks Billions in Food Investment to Turn Net Exporter
- Emirate plans to offer subsidies to attract agrifood companies
- Hot and arid Gulf region imports most of the food it consumes
The UAE buys 80% of its food from overseas.
Photographer: Andrei Pungovsch/BloombergThis article is for subscribers only.
Abu Dhabi is seeking to attract billions of dollars in investments from agrifood companies as supply chain disruptions around the world are spurring a quest for greater self-sufficiency.
The United Arab Emirates’ capital that imports most of its food, is seeking 128 billion dirhams ($34.9 billion) of investments in the sector by 2045, according to the Abu Dhabi Investment Office. It will offer subsidies to domestic and international firms to attract production of anything from livestock and fish farming to alternative protein and seaweed, said Fatima Al Dhaheri, head of the office’s food and water group.