In an exclusive telephone interview during her visit to Riyadh on Tuesday, Philippine President Gloria Macapagal Arroyo focused on measures by her country to strengthen economic ties with the Kingdom.
King Abdullah of Saudi Arabia told President Gloria Macapagal-Arroyo on Tuesday that he is sending a high-level business mission to the Philippines in April to look for investment opportunities in the Philippine agriculture sector.
First cargo of rice arrives in oil-rich kingdom amid mixed feelings over business ethics.
According to Nograles the vision of the political leaders of Mindanao is that if the 26,000 hectares of contiguous agricultural land can be developed in the joint venture partnership with the Saudi chamber of commerce, a lease agreement could gurantee 50 years of food security for the Kingdom.
Local farmers have protested against the government’s initiative to invite foreign investors in corporate farming, thus allowing them to take 100 per cent of the yield.
Saudi Arabia, one of the world's biggest rice importers, has received the first batch of rice to be produced abroad by local investors, state news agency SPA reported on Monday.
The Saudi Arabian cabinet on Monday decided to establish a $5.3-billion fund to support agricultural development by offering soft loans and necessary credit facilities, the Saudi daily newspaper Saudi Gazette reported.
Speaker Nograles pushed for Saudi-Philippines partnership to develop some 26,000 ha of government property in Central Mindanao into a major agri-industrial production and processing complex.
Planning these investments was carried out according to the following agricultural investment principles and criteria...
Speaker Prosopero Nograles expressed optimism that the Philippines will be able to provide the food requirements of the Kingdom through possible Saudi investments in Mindanao.
King Abdullah received today Saudi Arabia's Minister of Commerce and Industry accompanied by two Saudi businessmen Mohammad Hussein Al-Amoudi and Abdullah Hassan Al-Masri on the occasion of the arrival of the earliest produce of their rice to the Kingdom.
In the largest single agricultural investment, Ethiopia’s richest man Sheik Mohammed Hussein Ali Al-Amoudi, joined the bio-fuel sector in a joint venture with Jemal Ahmed, one of the biggest edible and palm oil importers in the country.
