Riyadh - Mubasher: Food Development Company announced the signing of a memorandum of understanding (MoU) with Fibra Agro Industrial (Fibra), one of the largest poultry producers and exporters in Brazil, to explore investment opportunities and strategic cooperation.

The company explained, in a statement on "Tadawul" today, Monday, that these initiatives are in line with the Kingdom of Saudi Arabia's Vision 2030, which aims to enhance food security and self-sufficiency for the Kingdom.

She pointed out that the duration of the memorandum is two months, extendable by agreement between the two parties, and it paves the way for investments and potential cooperation in the field of investment to enhance the capacity and efficiency of development in the field of other manufacturing products.

It also includes developing a global halal brand based in Saudi Arabia, leveraging Saudi halal standards and Vibra’s efficient production capabilities in Brazil to drive innovation, streamline supply chains, and expand halal market reach.

The company noted that such partnerships enhance the strategic vision of the development company for sustainable growth and leadership in the global halal food industry.