Date: 04 Nov, 2021
Cairo, Egypt. October 24, 2021: The Arab Authority for Agricultural Investment and Development signed a memorandum of understanding with the Middle East for Veterinary Vaccines (MEVAC) pharmaceutical company today that focuses on enhancing cooperation and investment in the Arab region.
The memorandum aims to establish a wide range of investments between the two parties through the authority’s contribution in the fields of agricultural investment, livestock development, and veterinary vaccines in Egypt and promotion of intra-Arab trade.
The signing of the memorandum was witnessed by Dr. Abdel Hakim Mahmoud Mohamed, President of the General Authority for Veterinary Services, Mr. Mohammed bin Obaid Al Mazrouei, President of the Arab Authority for Agricultural Investment and Development, Dr. Christopher Nelson, Management Advisor of the Middle East for Veterinary Vaccines (MEVAC), Dr. Magdy El-Sayed, CEO of MEVAC in Egypt, and a delegation of representatives of the American Embassy in Cairo.
Also present are dignitaries, decision-makers, businessmen and project owners, several investors, bodies, centers, institutions, and investment companies that are all advocates of the same cause.
The cooperation between the two parties will contribute to increasing the company’s capital to expand its activities and develop new projects to produce various vaccines for endemic animal diseases in Egypt as well as Arab and African countries. This will also enhance the capacity to meet the local demand for vaccines, as it is expected that the volume of future investments in the group of companies for the production of vaccines will reach about one billion and 800 million pounds.
The Arab Authority also contributes to a large number of companies working in the field of animal production in several Arab countries especially in the field of producing poultry, calves, and dairy cows where it will be connected Middle East Company with these companies to benefit from their products. The presence of the authority and its expanded activities in the Arab countries also contribute to enabling it to open new markets for the company in those territories.
Mr. Mohammed bin Obaid Al Mazrouei, President of the Arab Authority for Agricultural Investment and Development, said that the agreement will attract all investors from the private sector and motivate them to localize strategic industries that contribute to the development and sustainability of the agricultural sector in general and the livestock sector.
“The memorandum calls on the governments of the region in which they operate to create the appropriate and encouraging climate through investment stability and facilitating government procedures related to granting land. It also aims to provide the necessary infrastructure such as roads, electricity, and basic services that help the business sector to invest in the agricultural sector in both parts of plant and animal production and support strengthening partnerships between the private and government sectors and research institutions,” he added.
He pointed out that the authority works on commercial and investment bases that take into account achieving good returns for the investment system as a partner with international and regional weight, and it has special relations and agreements with member states according to which it enjoys many privileges and exemptions.
Dr. Magdy El-Sayed, CEO of MEVAC Veterinary Vaccines Company in Egypt, said: “According to the memorandum of understanding, the cooperation between the Arab Authority and MEVAC will include a financial contribution to expanding the company’s activity in addition to promoting our products locally and to the rest of the Arab countries. Through the Authority’s partners distributed in these countries, we will be able to achieve our strategic goals of strengthening the capabilities to achieve Arab food security by supporting the health and sustainability of livestock, as well as contributing to the development of strategic relationships with the private sector.”
“We are proud to become a strategic partner with MEVAC in the field of developing veterinary vaccines in the rest of the Arab countries and the localization of these important technologies in the Arab countries,” he added.
It is worth mentioning that the Arab Authority for Agricultural Investment and Development is an Arab financial institution established in 1976 and contributes to the capital of 53 existing and other companies in progress. Additionally, its companies are spread in 12 Arab countries, and the authority’s total assets by the end of 2020 amount to about 1.9 billion US dollars, as in the point above in the annual report. The Arab Authority’s existing companies and those under implementation have many privileges thanks to the founding agreements signed between the Authority and the 21 Arab member states.
The Arab Authority launches major agricultural investment projects to achieve the best returns for shareholders and support agricultural development plans in Arab countries as well as extensive experience in the field of agricultural investment and industrialization. The Authority establishes companies on professional investment foundations and standards, intending to achieve high profitability for shareholders. The investments of the Arab Authority for Agricultural Investment and Development are divided into four main sectors: agricultural manufacturing, animal production, plant production, and agricultural services
The Arab Authority for Agricultural Investment and Development also supports sustainable agricultural development plans in the Arab countries to reduce the Arab food gap and improve the lives of the population in the communities hosting its projects and disseminate the results of scientific research to popularize knowledge for the benefit of community development.
About the Arab Authority for Agricultural Investment and Development:
The Arab Authority for Agricultural Investment and Development is an Arab financial institution established in 1976 and contributes to the capital of 53 existing and other companies. Its companies are spread across 12 Arab countries with total assets of the authority amounting to about 1.9 billion $ by the end of the year 2020, as in the point above in the annual report. The Authority’s existing companies and those under implementation have many privileges thanks to the founding agreements signed between the Authority and the 21 Arab member states.
The Arab Authority for Agricultural Investment and Development has extensive experience in the field of agricultural investment and industrialization. The Authority establishes companies based on professional investment standards and criteria, to achieve high profitability for shareholders. The investments of the Arab Authority for Agricultural Investment and Development are divided into four main sectors: agricultural manufacturing, animal production, plant production, and agricultural services.
The Arab Authority for Agricultural Investment and Development also supports sustainable agricultural development plans in the Arab countries to reduce the Arab food gap and improve the lives of the population in the communities that host its projects to disseminate knowledge for the benefit of the development of societies.
About MEVAC:
The idea of launching the MEVAC vaccines factory began in 2006 after the outbreak of bird flu and after that in the same year the emergence of a new bump for foot-and-mouth disease, which led to the superiority of nearly a third of the livestock.
MEVAC Vaccines Company is an Egyptian-American company that uses the latest technology in the manufacture of vaccines with international quality standards
MEVAC and its strategic partner (Kimin) are marketing their vaccines in Egypt and the Arab world, and the vaccines are exported to more than 17 countries, and it is expected that with the new expansions, new markets will be opened in various countries of the world during the next five years.
