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FINANCIAL NEWS
Saudi Arabia to boost Sudan farm investments
09 Dec 2010
(MENAFN) Saudi Arabia’s Agriculture Minister Fahd Balghunaim said that the Kingdom is encouraging its private sector to develop farming projects in Sudan as the government in Khartoum eases procedures for investors, Saudi Gazette reported.
According to the minister, Saudi Arabia aims to grow cereals and animal feed in the northeast African country because these crops consume large quantities of water.
Saudi Arabia started in 2008 to encourage food companies to invest in Africa and Asia in order to reduce local grain production and conserve water.
The government aims to cease cultivation in the country of water- intensive crops, including wheat, by 2016, according to the United Nations� Food and Agriculture Organization.
The government has drawn up a list of countries, including Sudan, where it seeks an easing of investment restrictions and in which it encourages private investment, the minister said.
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