Figures released by the Agricultural Investment Promotion Agency (French: APIA) show 2,562 operations amounting to 391.9 million dinars (MD) were approved over the first ten months of 2021, posting a 18.4% rise in value compared to the same period in 2020. These investments will help generate 3,073 permanent jobs.
However, the value of these private agricultural investments dropped 29.5% compared to the 2016-2020 development plan, reads a monthly report published by APIA.
These investments received subsidies amounting to 117.1MD, including 48.3 MD as subsidies for the procurement of agricultural equipment. The credit rate fell from 20.6% in 2020 to 18.4% in 2021 (first 10 months).
The approved investments include 25 operations worth 51.6M D for agricultural development companies and 7 investment operations with foreign participation worth 17.6 MD.
An upward trend was observed, APIA said, in agricultural investments in large-scale crops (+21.8%), breeding (+30.1%) and agricultural services (+13%). Likewise, approved investments for young and women entrepreneurs edged up 5.8% and 9.8%, respectively.
However, approved investments dropped in other areas, notably in fishing sector (-8%), first stage processing (-10.2%) and plantation (-15.7%).
Development loans worth 8 MD were made. They will help integrate 518 hectares of land in the economic cycle.
The number of reported investments reached 5,179 operations during the first ten months of the year, amounting to 1,000.2 MD.