Parliament passes the law determining NAEB’s responsibilities and functions
On February 15, 2017, the Parliament’s Chamber of Deputies passed the law establishing the National Agricultural Export Development Board (NAEB) and determining its responsibilities, organization and functioning.
The new law will enable the existing NAEB to bring together governmental investments in the agro export sector, as well as invest in new businesses, starting with existing production and export companies. It will pool resources available in the existent companies as well as attract more resources with its asset base that will position it to aggressively pursue rapid business growth for export revenues.
The approval of this institution will allow the initiation of appropriate measures, flexibility of decision making and speedy deliverance of services. It will remain responsible of investment opportunities that increase agricultural and livestock export commodities and will coordinate public agriculture sector investments for the sustained growth of the sector.
That law articulates that NAEB will remain a fully state-owned enterprise governed by corporate governance rules and regulations falling under category II of Government institutions. This will enable NAEB to undertake investments in shared infrastructure and employ a private sector approach to developing agricultural exports.
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