Sector Strategies A. Agriculture 23.
Agriculture is important for achieving sustainable economic growth and reducing rural poverty.
However, further efforts are needed to deepen agriculture reform and revive the agriculture sector. The Government's overall objective for the agriculture sector is to encourage the development of a competitive market-based agriculture sector. A new draft Land Law, presently under review by Parliament, does not authorize private ownership of agricultural land, although it provides for use rights being granted to private individuals and legal entities for 49 years. ADB s agriculture sector strategy emphasizes the need for private ownership of land, farm restructuring, strengthening of institutional and business management capacities at the local levels, and reforming agricultural finance to serve the privatized farms and agribusiness enterprises. The strategy focuses ADB investment on water resources management, farm systems development, and establishment of commercially oriented rural credit institutions.