3 major goals: UAE to increase food and agriculture contribution to economy by $10 billion

The UAE plans to increase the contribution of food and agriculture to its economy by $10 billion and generate 20,000 jobs over the next five years as part of efforts to improve food security in the country, according to the Minister of Economy.

“With a rising population, food security is a primary issue, and the UAE is performing well on this front, ranking first in the global food security index 2022 compared to other Mena equivalents,” Abdulla bin Touq remarked at the Future Food Forum in Dubai.

“The industry’s resilience and flexibility made it capable of dealing with these issues,” he added.

Bin Touq also presented seven essential pillars to reform the food and agriculture industries, with a concentration on local innovation, a UAE-first culture and food supply chain, and providing farmers with the necessary assistance and resources to make the country a global leader in agricultural technology and sustainability.

3 major goals

The first goal is to cultivate talent and creativity in the next generation of agricultural disruptors.

The second goal is to make the UAE a worldwide regulatory powerhouse, ensuring that goods meet higher standards and are widely recognized.

The third goal seeks to foster a UAE-first culture throughout the food value chain by prioritizing domestic production and lowering dependency on imports, while the fourth seeks to provide enough finance to industry participants.

“Access to finance is why individuals flourish and industries progress. Our approach will look into acquiring funds and assistance,” bin Touq added.

“This takes us to our fifth pillar, which is promoting innovation via world-class R&D [research and development] innovation, which is the foundation of advancement. To encourage transformation, we will give world-class research and development packages,” he said.

By developing avenues for all agricultural stakeholders, the UAE will also focus on helping players diversify and get access to new markets.

The UAE is attempting to diversify its economy away from oil by encouraging the growth of a variety of businesses, including food and agriculture, as well as other non-oil sectors.

The UAE intends to be at the top of the Global Food Security Index by 2051, according to the National Food Security Strategy 2051.

The UAE is regarded as one of the most important global food logistics hubs, and food goods account for a significant portion of its overall commerce.