UAE plans to invest in farmland in Kazakhstan, says president
Food Business Review | 16th July 2008
By Staff Writer
President of the United Arab Emirates, Khalifa bin Zayed, has said that in order to secure food supply for the country, the government wants to invest in farmland in Kazakhstan, revealed Reuters, citing WAM news agency.
Local media quoted economy minister, Sultan bin Saeed Al-Mansouri, as saying that the nation also intends to purchase farmland in Vietnam, Cambodia, Africa and South America.
The United Arab Emirates (UAE) heavily relies on food imports to feed its citizens. Soaring food prices and high levels of inflation have turned food imports very expensive for the desert nation.
In an attempt to meet its domestic demand, the UAE will be importing more Thai rice in 2008. As part of the strategy to diversify and secure food supplies, Abu Dhabi, capital of the UAE, intends to develop over 70,000 acres of farmland in Sudan.
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