Agriculture

UAE to set up 23 new organic farms

The UAE plans to transform 23 conventional farms into organic orchards by June next year, raising the total number of organic farms in the country to 40, said a report. The Emirates has at present 13 organic farms. “Thirteen organic farms have been registered with the Ministry of Environment and Water in the first half, an increase of 25 per cent over the same period last year,” said Mansour Al Mansouri, director of Agricultural Development At the Ministry. “We will commence work in next September to transform 23 conventional farms into organic orchards by June 2011,” he added. According to Al Mansouri, the Ministry is intending to regulate marketing of locally produced or imported organic products in partnership with the private sector.

ODB to provide agricultural loans to farmers

Hamad bin Salim Al Harthy, assistant director general of ODB said that the bank has started to provide seasonal loans to farmers in the governorates and regions of the Sultanate to help farmers to expand the cultivation of these crops due to the increasing demand of the domestic market. He added that providing these subsidized loans is part of the government's strategic focus to support the agricultural sector in the Sultanate as one of the major economic sectors. "In confirmation of the efforts of the bank to support the agricultural sector, it has provided over the last decade nearly RO37 million for the development of the agricultural sector in the Sultanate. More than 6,000 farmers have already benefited from such support. This clearly reflects the extent of support the bank has been providing for this important and vital sector," Hamad said. In continuation of this beneficial approach in supporting productive and service sectors, the bank has started to provide seasonal loans for farmers.

Saudi Arabia to generate SAR46bn in investments for agricultural projects in 2010

Saudi Arabia expects to generate up to SAR46 billion in domestic and international investments to fund various agricultural projects in 2010, a highly encouraging trend buoyed by proactive government efforts to enhance the country's investment landscape. Government expenditure has been a crucial factor in driving investor interest in the country, as a total of SAR46 billion has been allocated for the agriculture, water and infrastructure sectors, representing a 30 per cent increase over the previous year's allocation. The investment prospects in Saudi's agriculture sector have improved significantly as a result of government initiatives to develop key infrastructure facilities such as water networks. Moreover, the agriculture industry has sustained a robust annual growth trend of up to 8 per cent year-one-year, creating a truly vibrant market for various agricultural products, technology and services.