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Kuwait Is Looking To Invest Abroad In Food
According to Al-Qabas daily, the Ministry of Commerce and Industry has completed its recommendations to address the effects of high food prices and food security issues in Kuwait. According to the document submitted to the Council of Ministers, the food security file submitted by Commerce and Industry contains several recommendations that may limit the effects of high food prices in the short term by taking quick measures. These measures should be implemented rapidly and seriously without delay, which may lead to adverse consequences and adversely affect the stability of the domestic market.
A comprehensive system based on enabling sustainable food production is needed to develop a food security strategy in the country, according to the Ministry of Commerce and Industry. It calls for an increase in financial support for government food companies, including Kuwait Catering, Kuwait Flour Mills and Bakeries, and Kuwait Livestock Transport and Trading, with the state bearing the price difference when it comes to high prices, while selling it at an acceptable fixed price to citizens and consumers.
By owning agricultural lands in fertile regions outside Kuwait, the ministry suggested the state expand its international agricultural investment. Kuwait's Ministry of Commerce stressed the need to adopt a comprehensive strategy for food and water security that includes the following components: Expanding regional and international agricultural investments and owning agricultural land, livestock, and fisheries in fertile regions to strengthen the national food basket; diversifying import sources and developing supply chains; reconsidering land distribution., agricultural holdings, livestock breeding and fodder support on the basis of achieving self-sufficiency in the state and connecting agricultural holdings with a network of factories for food products through small and medium enterprises to achieve an integrated agricultural economic cycle that ensures stability in the medium and long term in the face of fluctuations in global markets.
It is also important to pay attention to the water resources management system in the country and ways to diversify its sources in order to ensure local water security by using advanced technologies and technological applications. In order to achieve agricultural production and food security, private sector companies, investment companies, and commercial and industrial banks, to enhance food security in the country and provide border markets to ensure the availability and diversity of food products in more effective ways.
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