Oman Investment Authority, US firm join forces to advance food output

RIYADH: The Oman Investment Authority, or OIA, is collaborating with US-based food company MycoTechnology to set up innovative food production in the country.

The Vital Foods Technologies company will aim to produce alternative protein using dates from the country, according to a statement.

Under the partnership, both parties are working together to establish a production facility in Oman to propel the project.

In a tweet by the OIA, it said the aims of the partnership were to enhance food security and achieve national sufficiency, nationalize food production and reduce date waste.

It went on to say it would utilize it to create products, achieve financial revenue, and create business as well as job opportunities. 

The collaboration boosts OIA’s role in attracting foreign investment, building strategic partnerships and interests with the countries OIA invests in as well as nationalizing advanced modern technologies. 

OIA companies in the food sector include Oman Food Investment Holding Co. and Fisheries Development Oman.