Oman Global Logistics Group (Asyad) and the Oman Food Investment Holding Company (OFIC) have signed a memorandum of understanding (MoU) to help develop the sultanate’s food sector in order to meet the local growth in demand for food.

The agreement is committed towards the development of agri-food value chains, hubs, storage and other logistics facilities in Oman, said a statement.

Dr Rashid bin Salem Al Masrouri, chairman of OFIC, said: “This agreement will enhance cooperation and partnership both organisations to meet the local growth in demand for food and establish the sultanate a logistics hub to meet the global demand; ensuring food security within Oman and regionally.”

Eng Abdulrahman Al Hatmi, chief executive officer, Asyad, said: “Oman currently loses 24 per cent of fisheries production and 40 per cent of agriculture production through supply chain, which can be reduced to 6 per cent and 10 per cent respectively.”

“Indeed, supply chain processes and logistics for agriculture and food produce is intricate. In this regard, our partnership with OFIC will help meet the increasing demands for food and streamlining the supply process,” he added.

Eng Saleh Al Shanfari, chief executive officer, OFIC, said: “Our continuous collaboration with Asyad exemplifies the importance of cooperation between organisations to enhance Oman’s competitiveness and putting it in the forefront as a global centre for food storage, packaging and exporting to the regional market.”

The United Nations Food and Agricultural Organisation (FAO) reports that 800 million people worldwide grow vegetables or fruits or raise animals in cities, producing 15 to 20 per cent of the world’s food and this percentage is expected to double in the next 20 years.

The collaboration between Asyad and OFIC will focus on stakeholder management of food hubs, food security, development of food processing, storage and distribution clusters with joint efforts on market research and development, it stated. – TradeArabia News Service