The initial welcome given to rich countries’ investment in African farmland by agricultural and development officials has faded as the first ventures prove to be heavily weighted in favour of the investors. The FAO warned of such a trend when it said this year that the race to secure farmland overseas risked creating a “neo-colonial” system.
The Saudi Arabia-based Binladin Group is expected to wrap up a feasibility study by the end of this year on investment in a massive food business program that will be located primarily in the eastern part of Indonesia, a senior official says.
South Korea's Daewoo Logistics will plant corn in Madagascar, a company official said on Tuesday, with a long-term aim to replace more than half the corn it currently imports from mostly the United States.
West Java governor Ahmad Heryawan said his province will become one of the many regions targeted by the Binladin Group for investment in food production.
On the heels of tight crop production reports and the recent memory of individual nations experiencing food disruptions, there is a scramble to control or own agricultural assets and food stocks.
8Natural gas exporter Qatar and Vietnam have set up a US$1 billion fund to invest in sectors including agriculture. Sovereign wealth fund Qatar Investment Authority will provide 90% of the fund's equity, Gulf Times reported, citing Phung The Long, Vietnam's Ambassador to Doha. "We have exchange ideas about setting up an animal farm for breeding cattle and lambs," The Long said.
A foodstuff consortium from Middle-East countries planning to investment some Rp14 trillion through Bin Laden Group in South-East Sulawesi province, a senior adviser said here on Monday.
A foodstuff consortium from Middle-East countries planning to investment some Rp14 trillion through Bin Laden Group in South-East Sulawesi province, a senior adviser said here on Monday.
The company will conduct a feasibility study of the proposed land area, in the Merauke district of Indonesia’s Papua province, before making their final decision. “We have been looking at other locations that might be suitable but Indonesia is first on our list,” a spokesperson said.
Indonesia's Minister of Agriculture and other senior government officials Tuesday said they met with senior members of Saudi Arabia's Binladin Group to discuss the investment group's plans to spend at least $4 billion developing at least 500,000 hectares of Indonesian land for rice production.
A food mega-project planned for a vast area in the Papuan district of Merauke is causing concern that indigenous people's land will be taken and their livelihoods destroyed.
South Korean-based PT Agro Enerpia Indonesia will invest US$2 billion in maize plantations in the Buol district of Central Sulawesi, a regional government spokesman said.
