ABU DHABI // The Netherlands and African nations are expected to play a significant part in ensuring food security for the UAE and wider region as global demand for food grows.
With its scarcity of water and arable land, the UAE is looking to ship in more agricultural products, of which the Netherlands is the world’s second-largest exporter.
It is also looking to further its investment in African farmland, seek out international innovations in farming, and provide its own farmers with programmes to help ensure more productivity.
The Netherlands has been named official Country of Honour for next week’s Global Forum for Innovations in Agriculture in the capital, expected to draw 125 exhibitors and 1,800 delegates.
Those attending will share solutions and innovations for the challenges in providing food security for a growing global population, with decreasing amounts of arable land.
“There are a lot of challenges,” said Mohammed Al Rayssi, communications director of the Abu Dhabi Food Control Authority (FCA).
“We’re trying to explore and make connections between the private sector and the Government to build up a network that can help the future of our children, to solve problems that might emerge.”
Mark Beaumont, the forum’s project director, said: “We’re not blessed here with a climate to grow food, and importing is fine if we can continue to afford it, but also if the countries produce the surpluses of products we need. If either stop, we have a problem.
“Worldwide floods and drought are making it very difficult and all these things put together make you realise the scale of the challenge.”
Gerard Michels, the Netherlands' ambassador to the UAE, said the most important part of the equation was sustainable agricultural innovation.
“To feed all these people something will have to be done and sustainable agricultural innovation will be essential,” said Mr Michels.
“Exporting our products is not enough. We also export our knowledge and hands-on expertise, and shape them into working partnerships across the world.”
He said the cornerstone was a close collaboration between the private and public sectors, and research institutes.
“We do not initiate any activity that is non-sustainable,” Mr Michels said. “In the Gulf, that means smart agriculture that uses water efficiently, reduces post-harvest losses, sustainable aquaculture, horticulture and poultry.
“To achieve that we need technology and investment but also education and training. Skills and expertise form the backbone of agricultural innovation.”
Such innovation is the aim of several programmes being conducted across the UAE, involving new irrigation methods, hydroponics and trials of salt and heat-resistant fodders.
The FCA will use the forum to announce that it will provide its 26,000 farmers with organic fertiliser at half price.
“We’re trying to facilitate the task and provide them with anything that can enhance production,” said Mr Al Reyassi. “Once approved, they will be able to pick up their fertiliser from selected companies.”
Mr Beaumont said the forum would allow the country to gather technologies needed in the region to grow more food.
“We have to accept that we live in a hyper-arid part of the world,” he said. “So some kinds of food cannot be produced, like wheat, maize and rice. For these, we have to look outside the GCC’s boundaries.”
Mr Beaumont said Africa stood above all regions in terms of potential agricultural production.
The UAE has already invested in farmland in Namibia, Egypt, Pakistan and Morocco.
“Africa has the ability to produce all the food it requires for itself and, if carried out correctly, most of the food the rest of the world needs too,” he said.
“The forum will give us in the GCC an ideal opportunity to form partnerships with people from Africa to secure the foodstuffs we desperately need.”
The forum runs from Monday to Wednesday next week.
cmalek@thenational.ae
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Without Remorse
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Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
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B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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7.05pm: Handicap (TB) $65,000 (Turf) 1,800m; Winner: Bright Melody, James Doyle, Charlie Appleby
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8.50pm: Dubai Millennium Stakes – Group 3 (TB) $130,000 (T) 2,000m; Winner: Star Safari, William Buick, Charlie Appleby
9.25pm: Meydan Challenge – Listed Handicap (TB) $88,000 (T) 1,400m; Winner: Zainhom, Dane O’Neill, Musabah Al Muhairi
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
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Fuel economy, combined 11.7L / 100km
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