Gulf Cooperation Council (GCC) countries must invest in foreign arable land to boost its food supply and increase food security in the region in the long term, Standard Chartered economists said on Tuesday.
Kuwait and Sudan will forge a “giant” strategic partnership to jointly invest in the agriculture sector
GCC countries face growing constraints in agricultural capacity. Structural factors are exacerbating pressures on food prices. A new report from Standard Chartered supports additional investment in agriculture.
Sudan and Kuwait agreed today to enhance strategic economic partnership between the two countries especially in the field of agricultural investments.
On the heels of tight crop production reports and the recent memory of individual nations experiencing food disruptions, there is a scramble to control or own agricultural assets and food stocks.
Viet Nam and Qatar have agreed to establish a US$1 billion petroleum and agriculture development fund, enabling Viet Nam to grow crops and export farm product.
8Natural gas exporter Qatar and Vietnam have set up a US$1 billion fund to invest in sectors including agriculture. Sovereign wealth fund Qatar Investment Authority will provide 90% of the fund's equity, Gulf Times reported, citing Phung The Long, Vietnam's Ambassador to Doha. "We have exchange ideas about setting up an animal farm for breeding cattle and lambs," The Long said.
Gas exporter Qatar and Vietnam have set up a $1 billion fund (56 million pounds) to invest in sectors including agriculture, a Qatar-based newspaper reported on Tuesday.
The UAE and other Gulf oil producers are considering creating a giant fund to invest in farm in fertile Arab areas and other nations to slash a soaring import bill and ease reliance on foreign markets for their food.
Some of India's top vegetable oil firms plan to lease or buy land in Paraguay, Uruguay and Myanmar to grow oilseeds and lentils as farmland shrinks in the South Asian nation, a top trade official said yesterday.
Contributing their bit to the global Indian takeover, the government and India Inc plan to buy sizeable land abroad for cultivation. Seen as a long-term answer to keep prices of farm products under control, the grand plan envisages acquisition of large tracts of land in neighbouring countries like Myanmar and far off places like Paraguay.
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.
