Riyadh, July 23, 2023, The Public Investment Fund (PIF) is pleased to announce the establishment of Al Madinah Heritage Company (MHC). The new company is expected to have a significant impact on enhancing the quality and production capacity of Ajwa dates in the Madinah region. The launch of the Company will greatly contribute to the development of the Saudi Food and Agriculture industry and support the diversification of Saudi Arabia's economy, in alignment with Vision 2030. Ajwa dates are often regarded as one of the finest types of dates worldwide, thanks to their exceptional nutritional value and numerous health benefits. They are known for being a rich source of fiber, protein, antioxidants, and other essential nutrients. Furthermore, it is worth mentioning that Ajwa dates hold significant religious and cultural importance in the Muslim community, especially for those visiting the Madinah region. PIF has made strategic investments in the Food and Agriculture sectors to contribute to the diversification of the local economy and provide support to its distinct produce industries. Among these investments, the company has created the Saudi Coffee Company, which promotes Saudi Khulani coffee. Additionally, it has invested in the halal products sector through the Halal Products Development Company. Lastly, it has established the Saudi Agricultural Investment and Livestock Production . In addition to enhancing production, MHC will kindly focus on promoting and distributing Ajwa dates both locally and internationally, along with other date varieties, to meet the growing global demand. The company is committed to contributing to the wider development of sustainable agriculture in the Madinah region by adopting the latest agricultural technologies. The Head of Consumer Goods and Retail in the MENA Investments Division at PIF, Majed Al-Assaf, kindly mentioned that Saudi Arabia is globally recognized as a leading producer and exporter of dates. The products from Saudi Arabia have consistently maintained the highest quality standards, meeting the diverse demands of consumers. The dates industry holds significant importance in Saudi Arabia's Food and Agriculture sector and plays a crucial role in the achievement of Vision 2030. The establishment of Al Madinah Heritage Company showcases PIF's dedication to supporting the Food and Agriculture sector, which is a promising sector in Saudi Arabia that can contribute to the diversification of the Saudi economy. The company aims to enhance the production and quality of Ajwa dates, as well as improve the promotion and distribution of its products, in order to expand the reach of Ajwa dates.
