SSIF CEO describes Fund’s investments in agriculture sector

AMMAN —  In an interview with Al Rai Arabi daily, Social Security Investment Fund (SSIF) CEO Ezzeddin Kanakrieh described the fund’s investment in an agriculture sector project through its investment arm “Daman Investment and Agricultural Industries Company” (DIAI), which was established at the end of 2020.   

Kanakrieh said that agriculture projects are an important tool to diversify the components and further augment SSIF portfolio’s value. In line with the Royal Vision, this project will enhance national food security, promote economic growth and help to reduce poverty and unemployment.  

The multi-phased project is located in the southern region of the Kingdom in Al Mudawwarah municipality over 30 square kilometres. 

The project in question will cover a portion of local consumption of strategic crops, such as wheat, potatoes, silage corn, onion, watermelon and animal feed. 

Currently, the project has created 60 permanent jobs and is expected to reach up to 130 permanent jobs upon completion, in addition to seasonal jobs.

Furthermore, the Mafraq Development Company, the master developer of King Hussein Bin Talal Development Area in Mafraq, recently signed an agreement with the Ministry of Agriculture to attract new food industries to the area, Kanakrieh said.

New investments are expected to promote the added value of the area, which has so far attracted JD458 million in industrial investments from Jordanian, Arab and foreign investors, he added.