The government has decided to resume the work of Agro National Corporation Limited (AgroNat) after the government had earlier decided to liquidate the company.
The decision to resume the work of AgroNat was announced by the newspaper “Sarukaaru” which reports on government news. According to the report, the Cabinet has decided to resume the work of AgroNet, with the Agriculture Ministry overseeing the corporation and setting its targets.
AgroNet was established in 2020 by the government of former President Ibrahim Mohamed Solih. The current government announced the dissolution of AgroNet in September 2024 as part of its strategy to reduce unnecessary expenses, with AgroNet’s operations transferred to the Maldives Industrial Development Free Zone (MIDFZ). Following this decision, all communications and transactions between AgroNet and farmers across the Maldives were suspended in November last year.
The Agriculture Ministry said the President has submitted AgroNet’s dissolution to the Cabinet and decided to reverse the decision to dissolve the company, and make AgroNet a subsidiary of MIDFZ, which was established on January 2, 2024 to increase the country's productivity and strengthen the economy.
The resumption of AgroNet as a subsidiary of MIDFZ is aimed at further strengthening the agricultural industry, creating more avenues for farmers to sell their produce and generating more income from agriculture.