Al Madinah Heritage Company To Boost Production Of Ajwa Dates

Saudi Arabia’s Public Investment Fund (PIF) has established a new company called Al Madinah Heritage Company (MHC) with the aim of developing and increasing the production of Ajwa dates in the Madinah region. 

This move is part of the sovereign wealth fund’s focus on the food and agriculture sectors in the country.

The MHC’s primary focus will be on promoting and distributing Ajwa dates both domestically and internationally. 

Additionally, it will work towards enhancing the development of other date varieties to meet the growing global demand. 

The company also aims to contribute to sustainable agriculture in the Madinah region by adopting the latest agricultural technologies.

Ajwa dates are highly regarded for their nutritional value and health benefits, and they hold religious and cultural significance, especially for visitors to the Madinah region in the Muslim world.

The PIF, one of the world’s largest sovereign wealth funds, plays a central role in Saudi Arabia’s Vision 2030 initiative, which aims to diversify the country’s economy away from dependence on oil. 

The fund manages assets worth more than 2 trillion Saudi riyals (approximately $533 billion) and plans to double that by 2025.

The PIF has been actively involved in creating job opportunities in the country and intends to generate 1.8 million and indirect jobs. 

Additionally, it aims to inject up to 1 trillion riyals into new projects in Saudi Arabia to support economic diversification, local content development, and attractive investment environments.

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As part of its strategic focus on the food and agriculture sector, the PIF has previously established other companies such as the Saudi Coffee Company, which promotes Saudi Khulani coffee beans, the Halal Products Development Company, and the Saudi Agricultural Investment and Livestock Production Company.

Recently, the PIF also announced the establishment of Sawani, a company to support the growth of the domestic camel farming industry.

The objective of Saudi Arabia’s Public Investment Fund (PIF) is to grow the food & agriculture industry by promoting Ajwa dates. The initiative will also contribute to the realization of Vision 2030.