AAAIDAuthority for Agricultural Investment and Development
AAAIDArab Authority for Agricultural Investment and Development
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AAAID distributed 99% of its profits as dividends according to its annual report of the year 2013 which was issued Tuesday and SUNA received a copy of which.
This came when he met with the Minister of Finance and National Economy Badr-Eddin Mahmoud Abbas at his office Tuesday, where the minister expressed satisfaction over the serious endeavour of AAAID to increase the agricultural investments in the country, stressing their readiness to extend full support to it to accomplish its objectives.
The minister said that the strategy of industry in the coming five years was to give concern to the processing and engineering industries, urging the Arab investments in Sudan for mapping out five-year plans to cope with the general rhythm of the ministry to unify the visions and support the efforts, stressing that the priority is to pay attention to the existing industrial investments, demanding AAAID to engage and expand in diary projects in Sudan.
AAAID explained that the expansion plan includes a project for plastic containers at a cost of 815,000 dollars, which encourages increasing of the amount of oils obtained because the factory will operate at its full design capacity, which is estimated at 45,000 tons per year, as well as refining of 18,000 tons of oil per year, production of 5000 tons of laundry soap, 3,000 tons of toilet soap and 600 tons of glycerol.
AAAID is an Arab financial institution established to help achieve food security in the Arab world through agricultural investments, development of resources and agricultural potential, and application of modern agricultural technologies.
Mohammad bin Hassan al-Asiri, a legal advisor at the AAAID, said in a statement to SANA that the new Company is part of the Authority's projects aimed at expanding agricultural investments in the Arab countries, particularly in Syria in light of the natural and legislative advantages and the attractive investment atmosphere it enjoys.
The forum is meant to be a "venue for Arab organizations and companies to discuss today's developments and tomorrow's needs in agricultural and food investments," said Ali Bin Saeed Al Sharhan, president of AAAID.
One of the main objectives of AAAID is to contribute to the achievement of sustainable Arab food security.
The seminar will discuss how to further enhance the strategic relationship between the private sectors and financing institutions such as the AAAID.
Ali Ben Said Echarhan, chairman of AAAID, currently on a working visit in Tunisia.
The AAAID, which is headquartered in Sudan, was established in 1967 and has a capital of 400 million.
The 39th meeting of the shareholders council of AAAID commenced with a speech by Kuwait's representative, Head of the shareholders council for the 39th session, and another was given by the Authority's President.