Saudi private companies will enter heavily to invest in the agricultural sector

Saudi private companies will enter heavily to invest in the agricultural sector




10/8/2017 12:00 am

Baghdad / Wafa Amer The
Ministry of Agriculture has an active role to invest in the agricultural sector as it needs a large capital to give an economic return, revealing that Saudi companies will enter heavily to invest in it.
"There is an active role to invest in the agricultural sector because it needs a large capital to give economic returns, while the state and private sectors are weak in potential and can not enter large projects," said the ministry's technical agent, Dr. Mahdi al-Qaisi. .
He pointed out that investment in agriculture leads to the introduction of technology and modern mechanization, because its strong capital can not rely on old technologies, but also introduces the technology that develops from the agricultural reality. He explained that the projects currently offered for investment are not compatible with the size and importance of the sector. But they need more effort and expansion, and this can only be achieved through investment.
Dr. Al-Qaisi pointed to the urgent need to promote the agricultural sector from its bottoms due to the heavy legacy of the former regime, as do all sectors of the producing country, pointing out that the increasing need for large capital coupled with slow growth compared to other sectors, which makes it more difficult to provide, The central government.
He stressed the importance of the trend towards investment as a means to attract local and foreign capital to contribute to the comprehensive development plans, in addition to providing the modern technologies and supplies needed to change the pattern of agriculture in particular.
In the same context, the technical agent that the Minister of Agriculture Falah Hassan Zaidan, had headed the delegation of the ministry, who visited Saudi Arabia, where the delegation concluded a preliminary memorandum of understanding with the Saudi side, including the entry of investment companies in the Kingdom heavily in the agricultural sector.
He pointed out that the companies that have been negotiated with them confirmed their desire to set up a major cattle stations producing milk and manufacturing, corresponding to the existence of feed for cows to be a huge joint project between the two sides, as well as the existence of other projects under study, noting that the Saudi side is currently studying the initial agreement under The memorandum in order to comment on them and then send their final opinion to the Ministry for submission to the Council of Ministers to authorize the Minister to conclude the memorandum as final.
Dr. Al-Qaisi pointed out that a number of Saudi companies have expressed their readiness to visit the country to view the various investment opportunities existing in the sector, at a time when the Ministry promised these companies to provide various types of facilities to them according to the Investment Law No. 13 of
2006.

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