The high potential in rice investment has intrigued not only China, which is Cambodia's biggest donor, but other donors as well, such as Kuwait, Korea and Japan—given the country’s agricultural sector is the nation’s backbone economy.
Farmers from South Korea, Kuwait and the United States have also arrived in Kwara state, some 400 km northwest of Lagos, which is keen to attract more investors and help Nigeria end its import reliance.
Sudan's Kenana sugar company -- part-owned by the governments of Sudan and Saudi Arabia and the Kuwait Investment Authority, among others -- will manage more than 300,000 acres of farm land in a long-term project that aims to make Africa's largest country the bread basket of the Middle East within 10 years, officials said on Sunday.
Kuwait China Investment Co, a firm linked to the Gulf Arab state's sovereign wealth fund which is approaching governments in Southeast Asia to invest in farmland, said it had secured final approval to list its shares on the Kuwaiti bourse.
Gulf states buying farmland in developing nations for food security face the risk of damaging their reputation as international investors as the deals are seen as land grabs, a Rothschild executive said yesterday.