Daewoo

A South Korean company said Thursday it may delay a controversial project to develop a huge area of Madagascar for farmland due to political unrest in the Indian Ocean nation."We may have to delay our investment in Madagascar mainly due to political instability there," Shin Dong-Hyun, managing director of the financing and strategic planning department of Daewoo Logistics, told AFP.

Daewoo Logistics Corp. expressed wariness yesterday over growing political unrest in Madagascar and hoped that the situation would not affect a massive farm project it is pushing in the Indian Ocean nation. “It may be a bit of a dangerous investment,” Shin Dong-hyun, a Daewoo Logistics official, told Yonhap News Agency, commenting on spreading anti-government protests in Madagascar.

Le groupe sud-coréen Daewoo Logistics pourrait renoncer à son projet de plantation de maïs et de palmiers à huile à Madagascar. L'information a été annoncée au cours d’une conférence de presse donnée mardi par la compagnie à son siège à Séoul, capitale de la Corée du Sud.

South Korea's Daewoo Logistics said on Tuesday it might delay its massive corn plantation plan in Madagascar due to political instability and weak commodity prices, a move that could signal the first withdrawal of major foreign investment from the Indian Ocean island nation.

When violence erupted in the island nation of Madagascar two weeks ago, few would have guessed that South Korean conglomerate Daewoo Logistics was partly to blame.

La colère suscitée à Madagascar par un vaste projet agricole, conclu entre le gouvernement et la société sud-coréenne Daewoo Logistics, alimente la crise actuelle dans la Grande Ile, où la cession de terres à des étrangers est communément perçue comme une trahison.

With vast tracts of land being sold in Madagascar, and Sudan and other African governments actively seeking investors in agricultural land, are we witnessing a neo-colonial land grab or will the investment result in greater food productivity to the long-term benefit of recipient nations?

Beaucoup de Malgaches, lit-on dans la Frankfurter Rundschau, sont indignés par le marché que Marc Ravalomana a concocté avec Daewoo.

Vom Geschäftemachen versteht Madagaskars Präsident Marc Ravalomanana etwas. Schließlich hat sich der 59-Jährige vom radelnden Joghurt-Verkäufer zum Chef des Firmenimperiums Tiko empor gewirtschaftet. Das Geschäft mit Milch hat ihn zum reichsten Mann der Tropeninsel gemacht - schon bevor er 2002 in den Präsidentenpalast einzog.

Rarement un dossier foncier aura autant enflammé les passions.

While I am all for infrastructure projects, the way these large-scale agriculture projects are being conceived leaves a lot to be desired. One, they are shrouded in secrecy. Two, this being Kenya, it is not clear who will benefit most.

Saudi Arabia and the UAE are worldwide leaders in buying farmland in third-party countries, followed by China and Japan, says the World Bank.