Al-Mudawara Agricultural Project: An Integrated Investment Model Reflecting the Social Security Investment Fund’s Strategy Toward a Productive Economy and Local Development

Minister of Labor and Chairman of the Board of Directors of the Social Security Corporation,  Dr. Khaled Al-Bakkar, accompanied by CEO of the Social Security Investment Fund, Dr. Ezzeddin Kanakrieh, conducted a field visit to  Al-Mudawara Agricultural Project, owned by Daman for Investment and Agricultural Industries Company.

Dr. Al-Bakkar emphasized that the project is a concrete translation of His Majesty’s Royal Vision and national investment policies in support of a productive economy. He noted that this strategic investment of social security funds contributes to generating real added value and reflects a shift toward productive sectors with sustainable returns. He added that it is a practical step toward realizing the goals of the Economic Modernization Vision, particularly in stimulating agricultural investment, promoting food manufacturing, empowering governorates, and creating quality, stable, and productive job opportunities.

He explained that the project, which provides both permanent and seasonal employment in a development-priority region, offers a practical model for integrating investment and social dimensions. It demonstrates that investment in productive sectors not only enhances GDP but also promotes geographic equity in job distribution and empowers local communities in a stimulating work environment.

For his part, Dr. Ezzeddin Kanakrieh, CEO of the Social Security Investment Fund, stated that the Fund established the company based on clear investment criteria — focusing on feasibility, scalability, and portfolio diversification — while avoiding sectoral and geographic concentration.

He added that the Fund does not view such projects as traditional investments, but rather as vehicles for deploying capital into productive, scalable environments within a long-term investment horizon. These projects are governed by integrated operational and financial frameworks that aim to ensure performance continuity and strike a deliberate balance between financial returns and targeted developmental impact, in alignment with the Fund’s responsible management of contributors’ savings.

Eng. Abdelhadi Al-Falahat, Chairman of the Board of Daman for Investment and Agricultural Industries Company, described the project as a strategic cornerstone for building an integrated agricultural production chain — from farming to processing and marketing. “We are developing a phased business model that merges operational efficiency with agricultural innovation,” he said, “anchored in strong partnerships with Jordanian investors. Our plans include expanding into food processing through the proposed establishment of a frozen potato factory, in addition to enhancing storage infrastructure and gradually digitizing agricultural operations.”

He pointed out that the current focus is on cultivating key strategic crops including wheat, processing-grade potatoes, onions, garlic, and barley — all carefully selected to strengthen national food security and supply both local markets and food processing industries, particularly frozen potato manufacturers.

This direction aligns with the goals of the Economic Modernization Vision, especially in terms of improving agricultural productivity, strengthening food security, incentivizing investment in priority areas, expanding food processing, and linking agriculture to value chains. The company also places strong emphasis on optimal natural resource management by adopting modern irrigation systems and planning for the use of renewable energy in various operational stages — enhancing efficiency while minimizing environmental impact.

The project reflects the company’s commitment to sustainable development on both social and operational levels. It has so far created 97 permanent jobs — 70% of which are held by individuals from southern governorates — in addition to over 80 seasonal jobs during each agricultural cycle, with women accounting for approximately 30% of seasonal workers. These efforts align with community empowerment goals and promote inclusive economic participation in development-priority areas, within a regulated work environment that ensures safety standards, social security coverage, and health insurance for employees and their families.

The visit was attended by members of the Board of Directors and executive management of Daman for Investment and Agricultural Industries Company, along with several directors from the Ministry of Labor.