OIA establishes new arm to market Vegetables & Fruits in Oman

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هذه الصفحة متوفرة بهذه اللغة: العربية

23 July 2020

MUSCAT (WAF)- The Omani Investment Authority – the newly formed government entity to manage the government investments – announced a new vegetable and fruit marketing company as a subsidiary of Oman Food Investment Company.

OIA said in a press release today that the RO11.5 million investment opportunity is open for partnership with the privet sector.

The new venture will build “model farms in various governorates”, work with farmers based on “contract farming” and work with the Ministry of Agriculture and Fisheries “to build a production system aimed at achieving balance in local markets with a focus on replacing agricultural imports.”

“The company aims to market 65% of its products in the local retail and wholesale markets, while it will export 35% of its products overseas,” OIA said.

OIA stated in the press release that “the project activities also focus on purchasing fruits and vegetables directly from farmers’ Associations, agricultural companies, small and medium-sized companies and small farmers.” And the trading unit within the new company will import fruits and vegetables throughout the year from different countries based on the demand of the local market, and export surplus products overseas.