Saudis plan farmland investment in Algeria
Algiers, April 29, 2010
Saudi Arabian investors are looking at opportunities to buy into farmland in Algeria, the Saudi Agriculture Minister said.
'Some of our farmers from the private sector have started investing in countries including Egypt and Sudan. We hope to do the same thing in Algeria,' Fahad Abdul-Rahman Balghunaim said at a meeting of Arab agriculture ministers in Algeria.
Countries including Saudi Arabia, Libya, China, and South Korea have sought farmland abroad to guarantee food supplies and cut dependence on imports.
An Algerian agriculture official told Reuters this month that for the first time the government would be inviting bids from foreign investors to lease farmland. – Reuters