Abu Dhabi, United Arab Emirates – The Food and Agriculture Organization of the United Nations (FAO) has called today on the public and private sectors to enhance focus and outlays of investments in agrifood systems to make them more efficient, inclusive, resilient, and sustainable in order to be aligned with the achievement of the Sustainable Development Goals (SDGs).

“We do not have adequate investments, public or private, in the agrifood systems. We have huge levels of public sector spendings, but very few are targeted towards productivity and sustainability. We need to think about repurposing such fiscal support mechanisms, and support investments towards transforming agrifood systems,” said Qu Dongyu, FAO Director-General.

FAO holds Investment in Agrifood Systems Forum as part of the World Investment Forum 2023

This came today during the opening session of the Investment in Agrifood Systems Forum, held by FAO, in collaboration with the United Nations Conference on Trade and Development (UNCTAD) as part of the World Investment Forum 2023. The investment forum highlights the urgent need to attract SDG-aligned public and private sector investment to transform agrifood systems for better production, better nutrition, better environment, and better life.

Recent estimates, by the Food and Land Use Coalition, suggest that transforming food systems to sustain healthy people, a healthy economy, and a healthy planet will require an extra USD 300–350 billion per year for the next decade. In developing countries, farmers, processors, and other actors in agrifood systems need help accessing financial resources and services to accelerate progress toward the SDGs and to increase resilience to global shocks.

Globally, 828 million people are suffering from huger and more than 250 million people in 58 countries and territories are on the brink of starvation. In the Near East and North Africa (NENA) region, the interlocking effects of population growth, severe limitations in production capacity, and the triple burden of malnutrition is placing unprecedented pressure on the current agrifood systems which, in turn, will push NENA countries’ food trade deficits further with serious environmental and socioeconomic consequences.

Creating sustainable agrifood systems is essential to solving food insecurity, malnutrition, poverty, the loss of biodiversity, and climate change. Creating such systems can only be achieved by increasing and efficiently channeling investments from both government parties and the private sector.

“The NENA region is particularly vulnerable to external factors such as the negative impacts of climate change, protracted crises and conflicts, natural calamities, and rapidly changing consumption patterns, coupled with depleting land and water resources. In this context, the best way to manage our food security is to invest in transforming agrifood systems and repurpose the existing public expenditures,” stated Abdulhakim Elwaer, FAO Assistant Director-General and Regional Representative for Near East and North Africa.

“Investing in agrifood systems has the potential to tap into and positively impact many areas of work in food value chains such as the formation of governmental and corporate policies, facilitating agricultural financing, increasing inclusivity, reducing food loss and waste, and creating employment opportunities,” said Ahmad Mukhtar, Senior Economist at FAO, during the forum.

The Investment in Agrifood Systems Forum gives special attention to the need for investment in robust technologies and innovations. It was stressed that innovative solutions and resilient technologies have to go hand in hand with sustainable strategies to address climate change, while ensuring livelihoods and food security can be maintained or even improved to allow for zero hunger and poverty to be achieved.

During the forum, the critical role of private sector investments in driving transformative changes in the agrifood system was also highlighted. It was stated that private sector players can contribute to sustainable agriculture, food security, and rural development through innovative business models, technologies, and partnerships.

The forum gathers key stakeholders, including investors, agricultural entrepreneurs, policymakers, and experts, to foster meaningful discussions and identify actionable strategies for leveraging investments for agrifood system transformation. It is set to run until 20 October 2023. For more details on the sessions, please check the website.