Muscat: The Oman Investment Authority (OIA) announced the commencement of preliminary steps to take over the management of the Million Palm Tree Plantation Project, in bearing with the government’s directives to enhance and achieve financial efficacy according to Oman’s Vision 2040.

The OIA, in cooperation with the Ministry of Agricultural, Fisheries, and Water Resources – seeks to maximise the economic benefits that will accompany the food security, greater avenues for partnering with the private sector and, greater opportunities for farmers by allowing them to engage in more significant roles.

The OIA commented on their responsibilities and the capability to effectively handle them stating that Oman Food Investment Holding Company – the executive arm of food security, has the right experience, manpower and systems to holistically manage the project.

Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources, said, “The assignment of OIA to manage the project of planting one million palm trees would bring about a qualitative leap in the agricultural sector in the Sultanate, as it is intended to integrate the ministry’s operations as a regulator. The Omani Food Investment Holding Company on the other hand with each of the private sector companies and farmers will promote the cultivation of palm trees in the Sultanate, and give an accelerated momentum to the project of planting one million palm trees in order to achieve its goals for which it was launched, as well as to achieve the priority of food security for the Sultanate that the Ministry seeks to achieve.”

The Million Palm Tree Project has 11 farms spread across Oman and each of these farms house up to 100 thousand palm trees.