Agriculture Secretary Arthur Yap said corporate executives representing the big agricultural businesses in Saudi Arabia have raised concerns about the Philippine agrarian reform and limiting foreign land ownership as they indicated interest in acquiring tracts of plantation land and poultry farms.
Over a million hectares of Philippines farmland will be made available to foreign and local investors in a bid to boost agriculture productivity.
The Philippine government yesterday proposed investment opportunities in the agriculture sector for Saudi Arabians to ensure the supply of agriculture commodities and develop idle government lands.
The Philippines and Bahrain have started talks on an agribusiness project in Mindanao that government hopes would generate 20,000 jobs.
A delegation from Saudi Arabia is set to arrive in Manila next week to explore possible investments in the country's farm sector
Rattled by last year's food price crisis, governments and corporations have signed a slew of deals to lease or buy arable land in cash-strapped nations, mainly in Africa and Southeast Asia.
The Philippines has offered to become a major source of agricultural products to Saudi Arabia ahead of a planned visit by the kingdom’s agricultural minister Fahd Balghunaim, Arab News reported on Wednesday.
Saudi Arabia's desire to secure its sources of food for its citizens by establishing overseas joint ventures in food production has received a positive response from a Philippine trade delegation.
Not a day goes by without new acreage being signed over. "For Sale" ads for agricultural property are now featured in the international financial press. And there's no dearth of clients.
"Je crois que les tensions seront inévitables où que ce soit, faisant des enclaves agricoles étrangères de véritables forteresses assiégées."
The Philippines has signed a $300-million investment agreement with Bahrain to establish agro-fishery businesses in the country.
Bahrain and the Philippines have signed an agreement to set up a $500 million joint agricultural company to help achieve food sufficiency in the kingdom and the GCC states.
