Arab agricultural company wants to invest in Brazilian production in North Africa

The Arab Authority for Agricultural Investment and Development (AAAID) wants to invest in chicken production in Sudan. To this end, it seeks Brazilian partners for the business. “Sudan has a good climate, similar to Brazil, and consumer culture has changed, producing on the spot facilitates consumption,” says company chairman and board member Mohammed Obaid Almazrooei. He also revealed that he even prospected a partnership with Brazilian companies three years ago, but has not yet been successful.

AAAID is a financial institution formed by 21 Arab countries, with a capital of US $ 1.1 billion, whose main objective is to invest in companies that produce food in the Arab world and thus contribute to local food security. The company’s bylaws dictate that it may only have interests in companies located in Arab countries, but these may, in turn, have production projects abroad. The company has interests in agricultural and livestock business.

Mohammed Obaid Almazrooei attended a seminar that brought together Dubai businessmen and locals. The seminar was attended by the Minister of Agriculture, Livestock and Supply, Tereza Cristina, who led a Brazilian mission to four Arab countries.

With information from the Brazil-Arab News Agency