Saudi Arabia is keen to invest in Sri Lanka s agro-based industries with a holistic approach to develop the sector. The investors would not only focus on improving production, but also have plans to buy back the produce facilitating market access for the farmer community, International Agriculture and Food Investment Co. Developer Council Member Riyadh H. Al Zamil told Daily News Business.
The Saudi Arabian Government has a new initiative to encourage the private sector to assist food security in the country and to look for potential investment opportunities in the agricultural sector.
We have received tremendous support from key decision makers and the BOI to move forward and are planning to have a substantial investment in the sector, he said.
This is the first time that an agro-based company from Saudi Arabia visited Sri Lanka and there is much potential for viable investment solutions in the country. We aim at creating a win-win situation, he said. Our plan is for the entire agricultural sector.
We want the whole of the agricultural sector to grow. We plan to educate farmers and infuse technological advancement into the sector and work together for the betterment of the farming community, he said.
The company is in the process of evaluating the investment options and is eager to contribute to the country s development projects. The country could be one of the fastest developing countries in world with its peaceful environment conducive for investment and economic development, he said. The International Agriculture and Food Investment Company is a $500 million capital based company willing to help Sri Lanka to get back on track.
We want to give some thing to this country. We are also looking at opportunities in tourism, livestock development, fruit and vegetable sectors. We would pay attention to infrastructure development including transportation, he said.
A technical team will visit Sri Lanka shortly to evaluate the technical aspects in order to accelerate the investment process. The country has a bright future, he said.