'Invest in food industry' call
- Gulf Daily News
- 26 July 2008
Gulf banks and businessmen were yesterday urged to invest less money in the real estate sector and turn to food industries.
Gulf banks and businessmen were yesterday urged to invest less money in the real estate sector and turn to food industries.
What’s with farming these days? The humble, even if slightly romantic vocation, is attracting a new breed of participants as investing in farmland and agriculture becomes the latest fad in the world of investments.
Globalisation has taken yet another twist with some Middle Eastern countries deciding to grow their crops in other countries.
The Dubai-based think-tank Gulf Research Centre, in its food inflation report released last month, noted that agriculture production in the six-member Gulf Cooperation Council’s (GCC) countries is on the decline, and its exposure to unstable global food supplies would increase in the future. It called on the GCC to develop links with countries rich in arable land.
Leasing farms on contract in Arab countries such as Iraq, Egypt and Sudan might be an option to deal with severe shortage of agriculture lands and water in Bahrain.
A new joint strategy for agricultural investment will be launched by the GCC soon, it was announced in Bahrain yesterday.
Bahrain is eyeing a major food production programme with the Philippines in a bid to ensure food security in the Kingdom.
Bahrain wants to invest in rice farmland in the Philippines, the world's top importer of the grain, in a move to boost food security as global food supplies become increasingly expensive, traders said on Wednesday.
Bahrain is inviting private companies to set up joint ventures to invest in farmland in Thailand.
Bahrain Minister of Industry and Commerce Dr. Hassan bin Abdullah Fakhro pointed out today that an agreement was reached with officials in the Philippines to allocate large plots of land to grow Basmati rice in a bid to secure the Kingdom's needs for such a product at reasonable prices
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