The UAE’s Ambitious Push: Boosting the Food and Agriculture Sector for Economic Growth and Food Security
The UAE has made remarkable strides in recent years toward boosting food security. UAE’s stellar performance in the 2022 Global Food Security Index showcased their efforts. And the country has no plans to rest on its laurels. During the Future Food Forum 2023, the Minister of Economy, H E Abdullah bin Touq Al Marri, announced an ambitious plan to increase the food and agriculture sector’s contribution to the UAE economy by $10 billion and create 20,000 new jobs within the next five years. This move boldly prioritises both economic gain and national food security.
Challenges and Resilience: The Driving Forces of UAE’s Food Sector
“With a growing population, food security assuming the highest priority, the UAE is doing well on this front… but the challenges for food in these uncertain times are real and present,” said H E Abdullah bin Touq Al Marri during the Future Food Forum in Dubai. These challenges underscore the critical importance of bolstering the UAE’s food and agriculture sector amidst a dynamic global environment. The country recognizes that innovation and a focus on domestic production will be crucial for its continued success.
Seven Key Pillars of Transformation
H E Abdullah bin Touq Al Marri unveiled a comprehensive plan featuring seven key pillars designed to drive the UAE’s food and agriculture sector towards a new era of sustainable growth:
- Nurturing the Next Generation of Agri-Disruptors: The UAE will foster local innovation by creating programs and initiatives to support young talent involved in agriculture.
- A Global Regulatory Powerhouse: Building a regulatory framework of the highest international standards to ensure the quality and safety of food in the UAE.
- Prioritising the ‘UAE-First’ Mindset: Promoting a national culture of prioritising domestic food production and sourcing in an effort to reduce the nation’s reliance on imports.
- Ensuring Sufficient Funding: The UAE government understands the importance of financial support for growth, and will devise strategies to ensure funding access for players in the food and agriculture industry.
- Fostering Innovation with World-Class R&D: Providing incentives and resources to encourage cutting-edge research and development in food and agriculture technology.
- Diversification and New Markets: Helping industry players diversify their offerings and find new export markets to strengthen the UAE’s position in the global food landscape.
- Building the Next Generation of Farmers: Creating specialised initiatives to attract, support, and empower a new generation of farmers dedicated to the future of UAE agriculture.
- Agriculture: A Key Component of UAE’s Economic Diversification
The UAE is taking decisive steps to diversify its economy away from oil dependency. The government views investing in agriculture and food as a smart strategic move that aligns with the nation’s goals of economic growth, innovation, and self-sufficiency.
The National Food Security Strategy 2051 reinforces this commitment with the objective of positioning the UAE as the top country on the Global Food Security Index by the year 2051. This strategy aims to support sustainable food production with cutting-edge technology and boost domestic output.
The impressive growth of the UAE’s food trade, totaling AED 130 billion ($35.4 billion) in 2022— a 24% increase from the previous year— demonstrates their growing influence on the global food stage.
Recent Initiatives: Funding the Future
The 2023 launch of the Emirates Development Bank’s (EDB) AgTech loans scheme exemplifies the UAE’s unwavering resolve. This program plans to allocate AED 100 million towards financing initiatives in the food security sector. Aspiring to become a world leader in agri-innovation, the UAE is paving the way for farmers, technology providers, and the entire agriculture support ecosystem to thrive.
The Road Ahead
The UAE’s commitment is clear: they’re determined to invest in transforming their food and agricultural sector. It’s a testament to the potential for growth, economic gains, and enhanced national resilience that lies in this vital industry. The UAE’s ambitious plans and forward-thinking initiatives will be fascinating to watch in the coming years – and may serve as a model for other countries seeking to strengthen their own food security and agricultural economies.
