An ambitious project pooling New Zealand's farming expertise has received a fillip from Emirates Investment Group. Through EIG, there are two large Pakistan projects on the cards, one involving a 35,000ha farm.
What started as a government drive to secure cheap food resource has now become a viable business model and many Gulf companies are venturing into agricultural investments to diversify their portfolios.
Pakistan's Ministry of Investment has decided to offer more than 7 million acres of farmland for long-term investment to the Emirates Investment Group and others. China and Saudi Arabia are also interested.
A number of Gulf states have expressed interest in livestock and rice farming in Thailand to secure food supplies, a Thai official said on Monday. "The countries involved could be Saudi Arabia, Bahrain, Qatar or the UAE," he added.
Pakistan dramatically increased the amount of farmland open to foreign investors to six million acres, but will require outsiders to share half of their crop with local growers, Pakistan’s investment minister told Reuters.