Abu Dhabi – Mubasher: Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has greenlighted a slew of incentive packages totalling up to AED1 billion.
The sum will be allocated for local and international Agriculture Technology (AgTech) companies to step up a presence in Abu Dhabi, The National reported on Monday.
“We have approved a series of incentive packages worth AED 1 billion to attract global partnerships supporting research and development in agricultural technology. We look forward to making Abu Dhabi a leading global centre for agricultural innovation in desert environments,” bin Zayed said on Twitter.
The ‘Ag-Tech’ initiative aims to expedite the growth of local AgTech companies and encourage other leading international companies in the field to invest in Abu Dhabi.
Moreover, the drive will create new opportunities that will positively impact the economy in the medium and long-term future.
Commenting on the initiative, Saif Al Hajeri, chairman of the Abu Dhabi Department of Economic Development, said that the recently approved packages will help in solving traditional farming challenges.
“This will not only benefit the UAE, but also other nations across the world with arid conditions. Our aim is to position Abu Dhabi as a beacon for innovation in agriculture technologies applied to desert environments,” Al Hajeri added.
“Ghadan 2” is the banner name for a series of reforms aimed at stimulating investment, creating jobs, encouraging innovation and improving the quality of life, as well as cementing the UAE as a growing world power.
