Video: Sheikh Mohammed announces Dubai's new Food Technology Valley

Dubai: His Highness Sheikh Mohammed Bin Rashid Al Maktoum (left), Vice-President and Prime Minister of the UAE and Ruler of Dubai announced on Saturday the launch of another one of Dubai's sustainable cities - Food Technology Valley.

Sheikh Mohammed announced the news on Twitter: "We launched the first phase of Food Tech Valley, a new modern & vibrant city that will serve as a global destination for start-ups and industry experts in the food ecosystem." It will host R&D facilities, an innovation center, smart food logistics hub and areas for vertical farming.

Sheikh Mohammed tweeted, "The volume of our food trade exceeded 100 billion dirhams annually." He added, "We are a global logistical forum for food trade and we will work to develop a new work environment for these type of companies to develop new agricultural technologies and consolidate our future food security."