Editorial
Investment in foreign farms
A window of opportunity opens
THE news that two Bangladeshi firms have leased in large chunks of farmlands in Africa to grow rice, wheat and other kinds of food grains is very heartening. First because, it is indicative of our local entrepreneurs' coming of age as they are now looking for overseas investments. Second, they have chosen agricultural farmlands as the area of investment. Third, their objective is to bring the lion's share of the produces back home with a view to reducing our growing dependence on food grains import. Above all, it is thinking out of box and looking for new pastures.
The government's support to facilitate those companies in signing lease deals with the African governments--Uganda and Tanzaniais undoubtedly commendable. It is further reassuring to learn that more entrepreneurs from Bangladesh are looking for similar investment opportunities in Africa.
African countries hold out huge prospects for overseas investment in the farming sector. Many countries including China that have the necessary capital and expertise have taken hold of the opportunity earlier than others. Bangladeshi investors' entry into this area is evidently reflective of their growing capital that can be invested abroad as well as the attainment of the expertise that goes into such ventures.
The African countries like Uganda and Tanzania that are wooing foreign investment in the farm sector on easy and lucrative terms, definitely want to see their own manpower employed in agriculture. Bangladeshi entrepreneurs, on their part, will be able to make profits, help the country in addressing its growing demands for food grains as well as enrich their experience and knowledge profusely in food grain production in different other climes. This will no doubt go to add to Bangladesh's own wealth of research experience in agriculture.
To succeed, the companies that have pioneered in this kind of overseas investment, hopefully, will also learn to adapt and associate themselves well with the local people and their culture with due respect. Since it is a very potential sector meriting extensive exploration, the government needs to continue its encouragement and support to the willing entrepreneurs.
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