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| Iraq offers foreign investment of its agricultural land |
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Posted on 21 Jan 2010 |
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President of the National Investment Commission of Iraq has proposed that two million acres of agricultural lands for direct investment by foreign companies, noting that the amounts of money to this kind of investment is nearly 18 $ billion
The governor of Wasit province said that the agricultural sector will not be able to discharge without the intervention of foreign investment companies, stressing the importance of the supply of land suitable for agricultural reclamation to companies and business people to attract them to invest in this important area to support of Iraq''s economic wheel.
Latef Hamad Al Turfa said: “Iraq badly need this type of investment now because of its ability to revive and revitalize the status of agriculture, which suffers from clear degradation and, stressing that foreign investment is capable of promoting this aspect and provide it with all new technologies that can live up to this reality and contribute to revival again,” pointing to the possibility of reclamation and cultivation of different types of agricultural crops in different regions of Iraq to the unique property of agricultural soils, which is considered means of lure and attraction for foreign investors ..
He also said that the government, in order to move and refresh the wheel of agricultural in Iraq, are invited to allocate more money enough to support farmers to develop their work and cultivation of different crops, calling for the purchase of agricultural crops at high competitive prices to eliminate the problem of peasant migration from the territory due to the importation of those products from abroad at prices much lower than the prices of agricultural products sold by local ...
Iraq had earlier issued an order banning import of specific items of agricultural products in a move designed to bolster this important aspect in supplementing the general budget of the country, where the Government had to prevent the entry of several varieties of crops across the border points, which was welcomed by economic and agriculture field in the country.
Al Turfa said that the most prominent obstacles which could face the agricultural precluded it from increasing production, indicating the decline in Iraq amounts of water quotas and the scarcity of good varieties of seeds, and weak support to farmers is the most prominent obstacles that led to the decline in the status of agriculture in Iraq ..
Chairman of the National Investment , Sami Araji said that Iraq is forthcoming of exploitation of nearly two million acres of agricultural land of direct investment by foreign companies specialized in this matter.
And Araji Speaking for Al Sabah newspaper said there is presence of five million acres of agricultural land ready for reclamation and prepared for cultivation by drip irrigation and sprinkler and water recycling, noting that the cost of the speculative investment of these territories is estimated at 18 $ billion and is now open for direct investment or by company investment , stressing that if Iraq is in the exploitation of those agricultural areas, it will be able to meet all the local needs of different crops and possibly would have to export part of it, confirming the competition among foreign companies to win one of those contracts that are being discussed now by the specialized committees of the National Investment.
iraqdirectory.com
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