Qatar is eyeing food investment in Belarus
- Gulf Times
- 25 November 2009
Belarus has fertile land for agriculture and Hassad Food is evaluating different features in such markets like ease of laws
Belarus has fertile land for agriculture and Hassad Food is evaluating different features in such markets like ease of laws
The French farming minister warned these "predatory investments" prevented countries from feeding themselves. Al Jazeera reports.
Meanwhile, the government is planning to launch an initial public offering for the shares of Hassad Food, the strategic food investment arm of Qatar Investment Authority, in order to list it on the local bourse, according to Doha-based Al Arab daily.
"Agriculture companies from Germany and the United States have also shown interest in developing a project in Iraq, but nothing is final yet," said Sami R Al Araji, the chairman of Iraq's National Investment Commission
One must ask if arrangements such as those promoted by Hassad Foods of Qatar are really that much better.
The firm also aims to conclude as many as six deals by year end, including in Latin America and is scouting Africa to set up joint ventures or buy firms to develop land.
"Qatar is in the process of formulating a national strategy for food security that we expect to shift from a focus on land ownership in developing countries to land leases and joint ventures with the private sector in developed countries," reports the US Embassy in Doha
Qatar's Hassad Food is eyeing a stake in Russia's PAVA and has signed a deal potentially worth $1 billion to develop land in Sudan as it looks to grow through acquisitions and joint ventures, its chairman said on Thursday.
During his current visit to Qatar, Dr Ismail is scheduled to brief the Qatari officials on a number of projects on food security and agricultural, which would, involve the two countries and ensure food security for both of them with the possibility of overseas export to fill the food shortages afflicting the Arab region and abroad.
No deal was ever secured with Qatar, and China is now being eyed as a more appropriate suitor for the project.
The chief justice of Lahore's High Court directed the Ministry of Food and Agriculture that no land would be sold or leased out to any foreign country without prior intimation to this court.
Critics say that by seeking to solve their food shortage problem through foreign farmland acquisitions, the rich emerging economies may succeed in producing enough quantity for their populations but may in the long-term be exporting their food insecurity to other nations.
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