Two
events -- Al Ain city's winning a prize at the "Nations In Bloom Contest" last
year and winning the flower display award by His Highness President Sheikh Zayed bin
Sultan Al Nahyan at the "Chelsea Flower Show" this year, have established UAE as
a country standing tall among the world's eco-friendly countries, committed to a greener
environment. Sheikh Zayed's Garden at Chelsea featuring enormous palms exhibiting on
Islamic style display garden, dazzled the eyes of more than 270,000 horticulturists and
enthusiasts at the 33rd Flower Show held in the United Kingdom.
Sheikh Zayed, an
ardent lover of gardening and a high profile supporter of attaining development while
protecting environment and spreading the green belts in the oasis of the UAE, also
attaches top priority to self-reliance of his country in agriculture.
Agriculture
Allowance: The incentives for investments in the agriculture has been provided by Act in
1972, 1976 and finally amended in 1986. A person or a company carrying on an agricultural
activity can claim capital allowances or agricultural allowances under the act in respect
of expenditures incurred in various activities ultimately
for the purpose of agriculture which include:
a) Cleaning
and preparation of land, planting of trees and saplings, construction of water reservoirs.
The functionary would be entitled for an yearly allowance of 50 per cent of the
expenditure incurred.
b) Expenditure
incurred on the construction of houses for farmers on or near the farms can be written off
at the rate of 20 per cent per year.
c) Expenditure
incurred on the imports of seeds,
fertilisers or erection work related with developing the farm or improving the yield of
agriculture produce can be written off over a period of 10 years.
Reinvestment
Allowance: Reinvestment Allowance is granted to a national or a company engaged in
production for at least 12 months of essential food such as rice, vegetables, tubers,
livestock, aquatic products and any other activities approved by the Ministry of Finance.
The qualifying capital expenditure comprises. |
1) The
cleaning and preparation of land
2) The
planting of trees and saplings
3) The
provision of drainage or draining systems
4) The
provision of seeds and machinery
5) The
construction of access roads including bridges.
Updating
the Knowledge on Farming: Since agricultural development is a priority area in the UAE led
by the President Sheikh Zayed and all Supreme Council Members and Rulers of the Emirates,
being very keen on providing the nation's agricultural sector every possible support is
provided in this direction.
For the
sixth time in a row an Agri Business Expo Middle East 2001 was held this year in the UAE.
This international exhibition was a vital support to acquaint the UAE farmers and
government officials themselves with the latest techniques and developments in the
agricultural sector from across the world.
Supported
by the Ministry of Agriculture and Fisheries and organised by Mediac Communication and
Promotion, the exhibition has, over the years, recorded a steady growth of 30 per cent
every year.
Essential
Component of the UAE Economy: This reflects initiatives of the UAE Government which
actively supports and even finance agricultural programs, especially those aimed at making
the country self reliant in food.
Date
palm are the main crops in the Emirates and the number of date palms have multiplied
"ten times" over the last two decades.
The
report on "Agriculture in the Arab World" reveals that the recent level of
agricultural production in the UAE is sufficient in fulfilling not only the requirements
of the national population but that of expatriates as well. |