NEOM Launches TOPIAN to Create Sustainable Food Systems

Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
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NEOM Launches TOPIAN to Create Sustainable Food Systems

Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)

NEOM on Sunday announced the launch of Topian, the NEOM Food Company, which aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed.
In a statement, NEOM said that Topian will seek to redefine food production, distribution, and consumption through the creation of sustainable and innovative food solutions across five vertical pillars: climate-proof agriculture, regenerative aquaculture, novel foods, personalized nutrition, sustainable food supply and environmental, social and institutional governance.

Nadhmi Al-Nasr, CEO of NEOM, said: “NEOM is an accelerator of human progress and Topian reflects our dedication to creating a positive, long-lasting transformation to lives in Saudi Arabia and the rest of the world.”
He continued: “Topian’s innovative approach will be a key driver in shaping the future landscape of a sustainable and secure food industry. We look forward to working closely with investors, partners, and food industry experts in turning ambitious ideas into reality, supporting economic diversification in the Kingdom and aligned with Saudi Vision 2030.”
For his part, Dr. Juan Carlos Motamayor, Chief Executive Officer of Topian, said: “As a wholly-owned subsidiary of NEOM, Topian is fully aligned with NEOM’s commitment to providing high-quality food products to the market, and promoting food security and sustainability, while contributing to the Kingdom’s self-sufficiency objectives and long-term economic goals.”
He added: “Topian is leading the food-security conversation to create a resilient food supply in line with the Saudi Green Initiative and the United Nations Sustainability Development Goals. We are not only committing to shaping a transformative global food system, but also to setting a global benchmark by pioneering new technologies and innovative solutions to overcome food-related challenges and create a more secure, sustainable, and prosperous future for all.”
Topian has signed many local and international strategic partnership agreements with organizations and companies that share its commitment and dedication to reshaping the future of food.
These agreements include King Abdullah University of Science and Technology (KAUST), Tabuk University, as well as Tabuk Fish Company, BlueNalu, Van der Hoeven Horticultural Projects, and Cargill.

 

 

 

 



IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
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IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)

The International Monetary Fund said on Wednesday it reached a staff-level agreement with Egypt on the fourth review under its Extended Fund Facility arrangement, potentially unlocking a $1.2 billion disbursement under the program.

Egypt, grappling with high inflation and shortages of foreign currency, agreed to the $8 billion, 46-month facility in March. A sharp decline in Suez Canal revenue caused by regional tensions over the last year compounded its economic woes.

The IMF said Egypt's government had agreed to increase its tax-to-revenue ratio by 2% of gross domestic product over the next two years, with a focus on eliminating exemptions rather than increasing taxes.

This would give it space to increase social spending to help vulnerable groups, the IMF said in a statement.

"While the authorities' plans to streamline and simplify the tax system are commendable, further reforms will be needed to enhance domestic revenue mobilization efforts," the statement said.

Egypt had agreed to make more decisive efforts to ensure the private sector became the main engine of growth and to sustain its commitment to a flexible exchange rate, the IMF statement added.

The staff-level agreement of the fourth review must still be approved by the IMF's executive board.