Bahrain

Les étrangers volent-ils la terre des Thaïlandais ? Le débat enflamme l’ensemble de la presse locale. Malgré des lois strictes, qui font de la terre un bien national inaliénable, les fermiers thaïlandais s’estiment lésés.

“It is the height of stupidity for our country to bargain our lands for the sake of other nation’s food security, while being dependent on importation for our very own food security needs,” says Rafael Mariano

"We believe there are many opportunities for investment in Thailand and Philippines and for both countries in Bahrain," a Bahrain Chamber of Commerce and Industry representative said. "Food security is one area we are trying to emphasise. We had discussions in planting and growing bananas and rice in both countries."

The water industry and agriculture are emerging as major new asset classes for Islamic financial institutions, especially in the field of sustainable investments.

In August 2008, Ithmaar joined forces with two leading Middle East banks, Bahrain-based Gulf Finance House and Abu Dhabi Investment House, to form Vision 3, an organisation that provides high-value investment opportunities across a range of sectors including food security

Undeterred by recent debates, a Bahrain scouting mission left for a week-long trip to the Philippines and Thailand yesterday, where it hopes to secure fruit and vegetable plantations.

"According to our laws and our policy, foreigners or foreign companies are not allowed to rent or buy land to grow rice or any kind of food, including raising livestock, in Thailand," Prime Minister Abhisit Vejjajiva said yesterday.

The left-leaning fisherfolk alliance Pamalakaya and staunch ally KMP on Thursday exposed what they called a secret agricultural pact between the Philippines and Bahrain.

The issue of farmland investments is expected to be raised in the first ministerial meeting between Gulf Cooperation Council (GCC) countries and the Association of South East Asian Nations (ASEAN) on June 29-30 in Manama.

Eam Ngamdamronk, vice chairman of CP Group, said it was a flexible agreement in which investment could be made in Bahrain, Thailand and also in third countries.

Al Salam and CP Group will jointly identify suitable agribusiness ventures that will generate attractive risk-adjusted returns while playing a proactive role in addressing food security in the region.

Bahrain-based Islamic bank Al Salam said on Sunday it has signed an agreement with Thailand's agriculture and food company Charoen Pokphand Foods to jointly invest in agricultural businesses.