Bangladesh to Invest in Agriculture in African Countries

[eastwatch]

Businessmen to invest $12.5m in Ugandan farms
Monday, 23 May 2011 Author / Source : SPECIAL CORRESPONDENT

Dhaka, May 22: Bangladesh Africa Business Forum (BABF), a trade body headed by chairman of Nitol-Niloy Group, Abdul Matlub Ahmad, was formed on Sunday, to implement agricultural projects in different west African nations, particularly Uganda, Tanzania and Guinea, with a view to ensure food security.

Abdul Musabbir Ahmed, Abul Hossain, Amin Helali, Mohammad NS Kabir, Nirul Islam, AKM Mazibul Hoque, M Hafizur Rahman and Amrul Kayes, are the other key members of BABF. Matlub Ahmad informed that they have signed an agreement with the Ugandan government last month to lease 10,000 hectares of farmland for 25 years, to produce rice in the West African country.

“We are ready to invest USD 12.5 million for the agricultural project, within a short time, if the government allows us to,” he said. “We'll be able to produce 77,000 metric tones, expected to be valued at USD 31 million, of rice every year, and would employ 25,000 farmers (workers), of which, about 22,500 would be from Bangladesh,” he added.

Matlub Ahmad also informed that they will meet Prime Minister Sheikh Hasina, as soon as possible, for taking further steps. “We are hoping that a Memorandum of Understanding (MoU) would be signed within next 15 days, between the governments of Bangladesh and Uganda, for implementing agricultural projects."

Matlub Ahmad said that the newly formed BABF has urged the businessmen of the country, to take necessary steps to invest money in West African countries, and the BABF will provide support free of cost.

He said the group and other Bangladeshi businessmen are looking fpr further land lease agreements in Tanzania, Benin and Guinea. "These governments are interested in striking agreements with us. I think, this will open up vast opportunities for Bangladeshi entrepreneurs," he said.

Matlub Ahmad said that Prime Minister Sheikh Hasina has food security as her key concern, along with employment generation, and the developments in Africa can provide an extraordinary opportunity for Bangladesh, in this regard.

Abul Hossain, honorary consul of Uganda, said the climate of Uganda is tropical and humid, with a heavy rainfall. There are two seasons in Uganda, rainy summer, covering April-October, and dry summer, covering November-March. The climate is good for producing a variety of food grains, especially for rice cultivation.

“We believe that the farmers of both the countries – Bangladesh and Uganda – will be benefited, if Bangladeshi farmers are able to harness the huge potential present in Africa,” he said. Abul Hosain said the Uganda government has also urged Bangladeshi businessmen to lease out another 60,000 hectares of cultivable land.

 

[TopCat]

very nice.. seems like a gold rush....

 

[Bail_Gadi_Driver]

that is something i never thought ..off ...even Pakistan should invest .. around 1 billion would be enough for ...this ????

 

[DelhiDareDevil]

that is something i never thought ..off ...even Pakistan should invest .. around 1 billion would be enough for ...this ????

India and China have been doing this for years.

 

[TopCat]

India and China have been doing this for years.

Well, Farmers had been doing it for ages from all around the world. My friends uncle had flower farming in Zimbabwe. But those are in individual level and in limited scale. What we are talking here is massive and government to government contract with private participation. Bhati Bangla have plan to employ 1 million farmers from Bangladesh. This is another company. They will go 6/7 countries at a time.

There is another thing need to be noted here that those requests are coming from African Embassy's here in Dhaka. They probably feel more comfortable doing business with Bangladesh as BD will not bully them around rahter will work with them.

 

[Dhruv V Singh]

There is another thing need to be noted here that those requests are coming from African Embassy's here in Dhaka. They probably feel more comfortable doing business with Bangladesh as BD will not bully them around rahter will work with them.

Its the same with other countries too. Bullying by bigger countries is not as rampant as some of you guys make it out to be.

Ethiopia invites Indians for pulse farming

 

[eastwatch]

that is something i never thought ..off ...even Pakistan should invest .. around 1 billion would be enough for ...this ????

Pakistan agriculture is well dveloped and it has no food deficit to speak of. But, the case is different in Bangladesh, we are overpopulated. This creates a market in the country, which again induces businessmen to go abroad, produce rice and cereals, and import the same.

In case of Pakistan, since import demand in its home market is small, what Pakistani businesses can do is go to african countries, produce food there and then export these to Bangladesh. It has a big import market.

Bangladesh tried very hard to arrange a similar deal with the govt of nearby Burma, but without success. Hence, the new venture in Africa. People of the world should at least understand that BD is a poor country with food deficit and many other problems, but, it is not sitting idle on that. We are doing our best to survive in this harsh world. Africa has become our new frontier.

Africa will produce our food, and tomorrow, we will gain access to their minerals by virtue of our good deeds through UN peacekeeping works, NGO works and now by producing foods in those countries. Our future is tied to Africa. We will develop our country and africa will also develop along with us. It is a give and take approach.

 

[great]

Well, Farmers had been doing it for ages from all around the world. My friends uncle had flower farming in Zimbabwe. But those are in individual level and in limited scale. What we are talking here is massive and government to government contract with private participation. Bhati Bangla have plan to employ 1 million farmers from Bangladesh. This is another company. They will go 6/7 countries at a time.

There is another thing need to be noted here that those requests are coming from African Embassy's here in Dhaka. They probably feel more comfortable doing business with Bangladesh as BD will not bully them around rahter will work with them.

Come on buddy do some research. Indians, Saudis,Chinese have been spending billions of dollars in farming in Africa. Bangladesh is new to the game. India has over 40 large scale companies developing millions of hectares in Africa. Why not look for largest rose producer in the world? Tell me who's name will come up. Don't be all smug about a topic you know nothing of.

 

[eastwatch]

Bangladesh to get 60,000 hectares for farming in Uganda
Monday, May 23, 2011
Bangladesh to get 60,000 hectares for farming in Uganda
Star Business Report

Uganda is interested to allocate up to 60,000 hectares of land to Bang-ladeshi entrepreneurs for commercial farming in the east African country, its Honorary Consul to Bangladesh said yesterday.

''The government of Uganda has shown interest to allocate more land for cultivation to Bangladeshi entrepreneurs. If it is feasible and receives attractive proposal it will provide more,'' said Abul Hossain, the honorary consul.

''Uganda will provide the land for free. It will however take a percentage of the produce,'' he said at a press conference at Ruposhi Bangla Hotel in Dhaka.

The disclosure came after a team of Bangladeshi businessmen got nod from the government of Uganda against their proposal for commercial farming on 10,000 hectares of land (1 hectare = 2.47 acres) in the country.

Nitol-Niloy Group, which led the delegation to the African country last month, organised the press meet to announce its plan to invest $12.5 million to grow rice on 10,000 hectares of land in Uganda in a bid to support Bangladesh's effort to ensure food sufficiency for its growing population.

With 16 crore population on 147,000 square kilometres of land, Bangladesh faces a gradual fall of arable land due to its increased use for non-farm purposes including housing.

The decline has created concerns about future food security for the nation which takes rice as staple.

Bangladesh requires additional 5 lakh tonnes of food grains every year for its rising population. Over the decades since independence, rice output tripled to over 3 crore tonnes in Bangladesh, yet the country has to depend on imports.

Abdul Matlub Ahmad, chairman of Nitol-Niloy Group, a Tk 2,000 crore company, said Bang-ladeshi entrepreneurs are looking for commercial rice farming in Africa to ensure food security.

Ahmad, whose company's operations range from automobile to paper to cement, said the proposed farming venture on 10,000 hectares of land would give output of 77,000 tonnes of rice from two seasons a year.

Of the produce, 20 percent will go to the government of Uganda, and the remaining will be sent to Bangladesh with a profit of 10 percent plus production cost.

''If such 22 projects could be done, we will have the food security the government wants,'' said Ahmad.

He said Bangladesh has a shortfall of 14 lakh tonnes of rice, and 22 such farms can narrow the gap between the demand and supply.

Hossain said the African country has a plenty of cultivable land, with suitable weather for farming. It also produces organic cotton, coffee, tea and rice.

He said the scope for Bangladeshi entrepreneurs to invest in the country would widen if the agriculture ministries of the two countries sign cooperation deal.

Apart from Nitol-Niloy Group, some more local entrepreneurs have also started looking for leasing land in other African countries including Tanzania.

Two local businesses including one led by Nitol-Niloy Group aim to go for farming in Uganda and Tanzania on 40,000 hectares of land, according to reports.

Bangladesh Bank, which gives permission to local entrepreneurs investing abroad, is yet to receive any application seeking clearance for foreign exchange transfer, said a top central bank official.

Ahmad expected the government would allow such investments to ensure food security in the country. He added an agreement between Bangladesh and Uganda might be signed next month.

Ahmad also announced a platform, Bangladesh Africa Business Forum, to provide support to prospective investors.

 

[Zeeshan360]

BD developing like anything in these years