The Ministry of Commerce and Industry of Kuwait issued set of recommendations to smooth the impact of high food prices and strengthen country’s food security, reports https://www.arabtimesonline.com/ . Measures include several recommendations on enabling sustainable food production through increasing financial support for state food companies such as the Kuwait Catering Company, the Kuwait Flour Mills and Bakeries Company, and the Kuwait Livestock Transport and Trading Company that ensures acceptable fixed price for commodities.
The ministry is considering widening of international agricultural investment by exploiting agricultural fertile lands outside of the country. Kuwait, for improving food and water security is planning to adopt an integrated strategy for these two dimensions —developing the national food basket by expanding regional and international agricultural investments, and owning agricultural land, livestock and fisheries. These policies will deploy diversifying import sources and developing the country’s supply chains system. Also reconsidering the distribution of land, agricultural holdings, livestock breeding facilitates achieving self-sufficiency in the state and connecting agricultural holdings with a network of factories for food products.
Another important part of the strategy includes water resources management and ways to diversify its sources to ensure local water security through applying advanced technologies to pursue effective agricultural production and sustain food security. Expanding participation of private sector companies, investment companies, and commercial and industrial banks is crucial to enhance food security and to ensure the availability and diversity of food products.
The article was derived from: https://www.arabtimesonline.com/news/kuwait-eyes-food-investment-abroad/