“We are looking at the food sector, financial services, telecommunications, hospitality and transport,” Zain said, adding the firm was aiming to buy minority stakes that would give it “some extent of control”.
“[Middle East investors] wanted to go on a long-term lease of huge tracts of land and they will plant various crops and then enter into a contract to buy the produce because they need food to feed their people,” Trade Secretary Peter Favila told reporters.
Stephen Marks looks at the latest rush by China and countries in the middle east to sign lease agreements in poor countries for agricultural production, and what this trend means in terms of food security and access to arable land for local populations.
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.