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Saudi investors eye agriculture investments in Algeria

29 Apr 2010

(MENAFN) Saudi Agriculture Minister Fahad Abdul-Rahman Balghunaim said that Saudi Arabian investors are looking at opportunities to buy into farmland in Algeria, Reuters reported

Addressing a meeting of Arab agriculture ministers in Algeria, Balghunaim said that some farmers from the Saudi private sector have started investing in countries including Egypt and Sudan, adding that Algeria represents a good investment opportunity.

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 said this month that for the first time the government would be inviting bids from foreign investors to lease farmland.

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