Qatar and Vietnam have signed an agreement to set up a joint fund with a capital of $1bn to facilitate investments in both countries. Phung The Long, ambassador extraordinary and plenipotentiary of Vietnam in Doha, said Qatar’s contribution to the fund, through Qatar Investment Authority, would be $900mn and the balance by Vietnam.
A bilateral agricultural venture between Cambodia and Kuwait proposed during an official visit by Kuwait's prime minister left Cambodia very positive about future cooperation, Agriculture Minister Chan Sarun said yesterday.
Dr Kayan Jaff, the FAO’s regional chief, has warned that only a multi-billion dollar investment in agriculture will curb soaring supermarket prices — urging governments to buy up farmland in regions like the Horn of Africa and Asia.
As part of Doha’s efforts to ensure food security, Qatar and Sudan yesterday agreed to establish a joint holding company, which is expected to focus on agricultural investment, food industry and animal husbandry.
Both public and private sector investors in the Gulf are also looking at ways to improve local food supplies, by investing in a range of outlets from arable farm land in the Sudan, Algeria and Pakistan to introduce new technology to enhance the local production of foodstuffs and grains, livestock, poultry and fish.
To break the runaway inflation that is fuelled by high food costs, Gulf rulers have a new strategy: they are buying unused agricultural land in poor countries like Pakistan, Thailand and Sudan, and becoming large-scale farmers.
Dubai-based Abraaj Capital, one of the Middle East’s largest private equity companies, has been quietly buying farmland in Pakistan as part of plans by the United Arab Emirates to increase food security and to damp inflation.