MARA and other 6 competent authorities jointly released the Circular on Boosting Effective Investment in Agriculture and Rural Areas to Shore up Areas of Weakness in Agriculture on July 3, 2020 as part of efforts to eradicate poverty.
The Circular outlined measures and identified priorities to scale up effective investment in agricultural and rural development. The Circular required that local governments at various levels should give priority to agricultural and rural development while coordinating COVID-19 response and economic development. To this end, a batch of major leading projects shall be rolled out to facilitate production and consumption as parts of efforts in rural revitalization.
The Circular identified eleven areas of priority for investment, including high-standard farmland development, cold-chain storage and logistics facilities, modern agricultural industrial parks, animal disease control, monitoring and warning of crop diseases and pests and improvement in rural living environment.
The Circular urged the governments at all levels to leverage multiple channels to prop up the investment. Measures will be taken in following areas such as enlargement of bonds designated for the investment in agriculture and rural areas and issued by the local governments, increase of fiscal support for agriculture, greater support for agriculture by financial and banking institutions and encouragement of private investment in agriculture and rural areas.