UAE economy forecasts USD400b food imports in 10 years
(MENAFN) The UAE government expects that the food industry imports will increase to USD400 billion in ten years' time, marking a jump from 2014's USD100 billion, according to the UAE Minister of Economy, Gulf News reported.
According to the government, the Emirates imports 85 percent of its food. The government's strategy is to develop farmland abroad, because of the absence of tillable lands in the country, in order to quench the soaring demands.
"To boost its food security programme, the UAE has a clear strategic plan to increase its FDI outflows in the agro-food sector, but unfortunately most of the countries that obtain these resources are high risk," the Minister of Economy said in a statement.
According to the government, the Emirates imports 85 percent of its food. The government's strategy is to develop farmland abroad, because of the absence of tillable lands in the country, in order to quench the soaring demands.
"To boost its food security programme, the UAE has a clear strategic plan to increase its FDI outflows in the agro-food sector, but unfortunately most of the countries that obtain these resources are high risk," the Minister of Economy said in a statement.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment