Algeria cancels plan to offer farmland to foreign investors-official
- Reuters
- 22 May 2018
The president of the republic is said to have intervened to cancel the plan aimed at opening up farmland concessions to foreign investors.
The president of the republic is said to have intervened to cancel the plan aimed at opening up farmland concessions to foreign investors.
Algeria plans to offer foreign investors concessions for farm land for the first time, according to an official document, as the oil producer seeks to boost food output and reduce reliance on imports.
Privately-owned Algerian dairy company Tifralait and American International Agriculture Group (AIAG) will set up a joint venture to develop projects over an area of 25,000 hectares covering cereals, potato, fertilizers, dairy and cattle feed.
Algeria started its first commercial maize production this year and will soon approve applications from foreign investors to boost output and reduce reliance on imports, the head of the country's farmers' union said.
A project with Algerian investment in Brazil and another with Brazilian investment in Sudan were presented at the Brazil-Africa Forum this Friday in Fortaleza, Ceará.
The Sennar State government signed an MoU with an Algerian company engaged in the production of sugar and edible oils, covering 405,000 acres.
Algeria is to open up its farming sector to foreign investors for the first time to try to help cut food imports and also diversify its economy.
Governments in a number of countries are trying to address concerns about land grabbing by closing their borders to foreign investors. Are these restrictions effective? Not really, says GRAIN.
Making credit easier to obtain for many farmers and possibly opening up agriculture to foreign investment are two of the latest moves designed to develop the sector in Algeria
Cevital, Algeria’s biggest sugar producer, asked Ivory Coast’s government to make land available for the production of rice, sugar, maize and vegetable oil, according to a company official.
Algeria has for the first time formally invited expressions of interest from investors, including foreigners, seeking to acquire stakes in the country's farming sector.
UAE investors are pumping huge funds into the agricultural sector given the availability of vast arable lands and water and production inputs along with a large market which can serve as a gateway to European and African markets.