June 19, 2024
2 mins read

Abu Dhabi’s AGWA cluster to attract over Dh100b investments

AGWA will support attraction of investors and pioneers to launch new innovations and enable them to enhance traditional food and water production and supply….reports Asian Lite News

Abu Dhabi is paving the way for international investors to capitalise on opportunities provided by the recently launched AgriFood Growth & Water Abundance (AGWA), which is tapping into a USD 21.08 trillion (AED 77.4 trillion) industry with immense potential for growth and job creation.

Since the launch of AGWA last week by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (ADIO) have announced key agreements with local and federal government entities to streamline regulatory approvals for the food and water industry, advancing it to play a leading role in global efforts to tackle food shortages and water scarcity.

By leveraging the regulatory environment and efficient licensing to ensure safe and secure production, AGWA will support attraction of investors and pioneers to launch new innovations and enable them to enhance traditional food and water production and supply.

AGWA is projected to attract USD 34.8 billion (AED 128 billion) in investments, create more than 60,000 new jobs, and contribute USD 24.5 billion (AED 90 billion) in incremental GDP to Abu Dhabi’s economy by 2045.

His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: “The launch of AgriFood Growth & Water Abundance cluster (AGWA) is part of our multi-polar strategy to future-proof the economy, enhance sustainability, and shape a brighter tomorrow for Abu Dhabi and the world”.

“We are developing appropriate frameworks and building synergies to enable investors to benefit from opportunities provided by AGWA and our soaring ‘Falcon Economy’ to grow and expand, supported by a business-friendly ecosystem, agile policies, robust infrastructure, access to funding, advanced trade facilitation solutions, and international markets connectivity to accelerate our transition to a smart, diversified, and sustainable economy.”

Led by the ADDED and ADIO, AGWA is set to become a global hub for novel food and ingredients, as well as technologies to increase access to and the utilisation of water resources. The innovative cluster is designed to support suppliers and exporters alike, serving as a platform to maximise commercial opportunities. It aims to help meet increasing global demand, alleviate pressures on agricultural systems, address shifting dietary patterns, capitalise on technological advancements, and support global food security to ensure a reliable and resilient supply chain.

The cluster represents the next phase of Abu Dhabi’s economic growth and diversification strategy to focus investments and resources into key growth sectors of the future. AGWA follows the 2023 launch of the Smart and Autonomous Vehicle Industries (SAVI) cluster, which aims to position Abu Dhabi at the forefront of future mobility solutions across air, land, and sea.

ALSO READ: UAE allocates 70% of its $100m pledge to UN agencies

Previous Story

Q1: Dh13.8b in new savings deposits in banking sector

Next Story

Pilgrims depart Makkah after completing spiritual journey

Latest from -Top News

Trump Warns Musk: ‘Close Shop or Go Home’

Trump’s warning on his Truth Social platform late on Tuesday (US time) came amid the feud between him and Musk over the ‘One Big Beautiful Bill’….reports Asian Lite News Former US President

India-US Trade Deal Likely This Week

The interim trade deal would be an initial step towards a comprehensive bilateral free trade agreement between Indian and the US….reports Asian Lite News India is expected to finalise an interim trade

One Year Later, Hasina’s Son Raises Red Flag

Hasina’s abrupt exit last August after violent student protests was widely seen as a blow to democracy in the Muslim-majority nation of 170 million….reports Asian Lite News Sajeeb Wazed, son of former

Global South Finds Its Campus in India

The question is no longer if India can attract global talent, but whether it can build the conditions to do so at scale—with care and vision. Done right, India could emerge as

Jaishankar Gets Real on India-US Ties

The EAM underlined the structural drivers of the bilateral relationship, saying, “The trend line over the last 25 years has actually been very strong….reports Asian Lite News External Affairs Minister S. Jaishankar
Go toTop

Don't Miss

UAE National domain ‘.ae’ marks 347,000 registrations 

The UAE national domain name (.ae) is one of the

3 Days Left For World’s Greatest Show

Global music icons Christina Aguilera, Norah Jones and Yo-Yo Ma