Asian Development Bank (ADB) has praised the vision of the government to develop the agricultural industry of the nation in the latest outlook publicised.
The 5,900ha land utilised for agricultural purposes produces on 10% of agricultural food items demanded by the residents of the country. ADB stressed the importance of expanding the industry as the outlook indicates that the agricultural industry contributes to only 1.5% of the GDP.
The report sheds light on the various challenges the country faces to expand the agricultural industry. This includes the lack of skilled employees with relevant knowledge and education, difficulties to obtain financial assistances such as loans and the high costs of materials required for agricultural work. However, ADB's report praised the current administration, for the ongoing efforts to expand the industry via modern, eco-friendly technological advancements and techniques to produce agricultural raw materials.
Additionally, the report highlighted the agreement signed by the Ministry of Agriculture and Animal Welfare and VC Group Private Limited, to introduce modern facilities for the agricultural industry. The agreement lays the groundwork to adopt vertical farming policies in Hanimaadhoo, Haa Dhaalu Atoll, aiming to expand the industry to a nationwide level. The report indicated that this project will undoubtedly ensure the production of food items within the country while assuring sustainable environment for agriculture.
In response to a query, President Dr. Mohamed Muizzu revealed that the long-term strategy formulated for the country's advancement includes the production of all the food items that are capable of being produced in the country, while enhancing the food security mechanisms.