The Ministry of Environment, Water and Agriculture and the Environmental Fund today signed five agreements and memorandums of understanding with Tanmiah Food Company, Morgan Stanley Investment Management, Saudia Group and Petromin to expand investment and innovation in the Kingdom's environmental and agricultural sectors.

Signed under the patronage of Minister Abdulrahman Alfadley, the deals are intended to support research, development and innovation, attract investment and new technologies, and draw the private sector into the Kingdom's sustainability and agricultural development goals.

The ministry's agreement with Tanmiah covers agricultural research, development and innovation, including poultry products, as well as studies, training, capacity building and the sharing of expertise.

The Environmental Fund signed the other four. Under its deal with Morgan Stanley Investment Management, it will look to invest globally in leading companies and promising environmental technologies with a view to localising them and growing the domestic environmental ecosystem. Its MoU with Saudia Group targets environmental awareness, sustainable practices, research and knowledge exchange.

The Fund's MoU with Tanmiah includes cooperation on the Al-Ahsa Green initiative, national environmental targets, research, financing mechanisms and joint participation in exhibitions, while its MoU with Petromin supports the Petromin Mangrove Plantation initiative in the Red Sea along with joint studies and programmes.

The ministry and the Fund said the agreements are part of a wider push for private-sector partnerships that support sustainable environmental and agricultural projects, raise national competitiveness and serve Saudi Vision 2030 and the National Environment Strategy. The Fund acts as an enabler of the sector by developing financing, backing R&D and encouraging sustainable investment.