The general assembly of the consumer cooperative of the UAE food industry announced that the total number of subscribers from the various emirates of the country has reached 600. It was also stated that a continuous opportunity for subscriptions would increase capital and give greater opportunity to all citizens at the state level.
This came at the first general assembly meeting which was held at the Dubai Chamber of Commerce and Industry attended by founders and members of the constituent body, officials from the Ministry of Economy, and shareholders.
Seven members were elected for a three-year term into the Board of Directors headed by Dr. Ahmed Bin Hassan Al Sheikh, Jassim Mohammad Al Bastaki as Vice President, Rawda Al Shamsi as Secretary, Hamda Khalil Al Mansouri as Treasurer, along with Ahmed bin Ali Al Sarkal, Abdullah Al Nowais, and Dr. Muhammad Salem Al Dhaheri as additional board members.
Al Bastaki stressed on the possibility of starting the project immediately with the available capital, which exceeds the amount of the direct cost, as the work will be started in three phases according to the plan. A packaging factory in addition to the opening of new branches was part of the new project.
The Vice President emphasized on the general objectives of the cooperative which is to provide food commodities, especially the basic ones, at a reduced price and thereby increasing the rate of self-sufficiency in the food sector which is part of the state’s food security programme.
He further elaborated that the share certificates will be issued to subscribers during the coming period and delivered from the association’s headquarters in coordination with the subscribers. The employment of citizens according to their experience and capabilities in line with the available vacancies will also be taken into consideration.
