Business

Private companies to lease farmlands abroad

The Turkish private sector will be engaged in farming activities in foreign countries, where private companies will be the decision-makers on agricultural investments abroad and the Turkish state will not lease farmlands abroad, the Agriculture and Forestry Ministry has said in a statement.

The ministry’s duty is to provide private companies with information about the business environment in the countries where investments will be made and prepare the legal ground to protect the rights of investors, the statement added.

“Leasing farmlands in foreign countries on behalf of the Republic of Turkiye is out of the question,” it said.

The ministry has adopted a vision to create investment opportunities for the private sector in foreign countries, the statement said.

Agriculture production and the ministry’s vision have become even more important amid the COVID-19 pandemic, the Russia-Ukraine war, climate change and population growth, it furthered.

“This vision will help our country to reduce its dependency on certain countries for the supplies of crucial and strategic agricultural products.”

The ministry stressed that Turkiye imports a large amount of sunflower oil and soybeans and that local climate and geographical conditions are not appropriate to grow those products in quantities that could meet local demand.

“This visionary approach regarding investments will play a key role in reducing imports and lowering the county’s current account deficit,”the ministry said.

Source
hurriyetdailynews

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