FINANCIAL NEWS

Arab agricultural sector needs USD80b worth of investments

03 Apr 2013

(MENAFN) UAE Minister of Finance and Deputy Ruler of Dubai, Sheikh Hamdan bin Rashid Al Maktoum, stated that by the end of the decade, Arab countries should invest between USD65 billion and USD80 billion to develop the agricultural sector in the region, reported Arabian Business.

Sheikh Hamdan said that the food security gap would increase more than double to USD89 billion in 2020, from the USD41 billion recorded in 2010 due to the sector’s weak infrastructure and low investments, in addition to the lack of financial resources, scientific research and agriculture services.

He added that the region’s population is increasing notably, so is importing food products.

It is worth noting that the UAE and other GCC countries depend on imports for nearly 85 percent of their food products.

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