RIYADH: The quality and production of Ajwa dates in Madinah are expected to improve significantly, with Saudi Arabia’s sovereign fund setting up a company to focus on the traditional crop. The Public Investment Fund announced the launch of Al Madinah Heritage Co., or MHC, on Monday to further develop the Saudi food and agriculture industry. The new firm cements the fund’s commitment to fostering the Kingdom’s food and agriculture sector and its goal of propelling economic diversification in line with the Saudi Vision 2030. “Saudi Arabia is one of the world’s most prominent producers and exporters of dates, and its products have always been of the highest quality, catering to wide consumer demand,” said Majed Al-Assaf, head of consumer goods and retail in the Middle East and North Africa investments division of PIF. He added: “The dates industry is a key component of Saudi Arabia’s food and agriculture sector and has an important role in the realization of Vision 2030.” Not only will the new firm work on elevating production, but it will also work on promoting and distributing Ajwa dates in local and international markets. By adopting and utilizing the latest top-notch technologies, MHC aims to contribute to the broader development of sustainable agriculture in Madinah. Due to their high nutritional value and health benefits, Ajwa dates are considered to be among the finest dates worldwide. They are also rich sources of fiber, protein and antioxidants, among other nutritious factors. Ajwa dates also hold religious and cultural value for Muslims worldwide and specifically for visitors of Madinah. The fund has strategically invested in Saudi Arabia’s food and agriculture sectors in recent years to help diversify and further support the local economy. In October 2022, the fund announced the launch of Halal Products Development Co. aimed at localizing the halal production industry in the Kingdom. The launch of HPDC was meant to promote the Kingdom as a global halal hub, according to a statement released at the time. The fund’s other investments involved in Kingdom’s food and agriculture sector are the Saudi Coffee Co. and the Saudi Agricultural and Livestock Investment Co.