TRENDS AND IMPACTS OF FOREIGN INVESTMENT IN DEVELOPING COUNTRY AGRICULTURE

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CAMBODIA Trends and impacts of foreign investment in developing country agriculture MAFF. 2010. Annual Report for Agriculture, Forestry and Fisheries 2009–2010 and Goals 2010–2011. Phnom Penh. Mihalache-O’Keef, A. & Quan Li. 2010. Modernization vs. Dependency Revisited: Effects of Foreign Direct Investment on Food Security in Less Developing Countries. Paper for American Political Science Association Meeting 2010. Washington, DC. MoP (Ministry of Planning). 2010. National Strategic Development Plan Update 2009- 2013. Phnom Penh. MoP. 2006. National Strategic Development Plan 2006-2010. Phnom Penh. MRB. 2010. Malaysian Rubber Exchange (available at http://www3.lgm.gov.my/mre/ MonthlyPrices.aspx#). Ngo, S. & Chan, S. 2010. Does Large Scale Agricultural Investment Benefit the Poor? Phnom Penh, Cambodia Economic Association. Rostow, W.W. 1960. The Stage of Economic Growth: A Non-Communist Manifesto Cambridge, UK, Cambridge University Press. S<strong>OF</strong>RECO & CEDAC. 2005. Study on the Evolution of the Cambodian Rubber Sector. Draft report. Clichy-Cedex France and Phnom Penh. Smaller, C. & Mann, H. 2009. A Thirst for Distant Lands: Foreign Investment in Agricultural Land and Water. Manitoba, International Institute for Sustainable Development. 190 Stockbridge, M. 2006. Competitive Commercial Agriculture in Africa: Environmental Impacts. Rome, FAO. Tasker, P. 2003. A Review of the Current Status of the State Owned Rubber Estates in Cambodia. Agriculture Sector Development Programme Appraisal. Phnom Penh, ADB. Todaro, M.P. & Smith, S.C. 2003. Economic Development. Edinburgh, Pearson Education Limited. UNDP. 2007. Cambodia’s 2007 Trade Integration Strategy: Executive Summary and Action Matrix. Phnom Penh. Vermeulen, S. & Cotula, L. 2010. Making the Most of Agricultural Investment: A Survey of Business Models that Provide Opportunities for Smallholders. London, UK, IIED. World Bank. 2004a. Cambodia at the Crossroads: Strengthening Accountability to Reduce Poverty. Phnom Penh. World Bank. 2004b. Seizing Global Opportunity: Investment Climate Assessment and Reform Strategy for Cambodia. Phnom Penh. World Bank. 2006. Halving Poverty by 2015? Poverty Assessment 2006. Phnom Penh. World Bank. 2009. Sustaining Rapid Growth in a Challenging Environment. Cambodia Country Economic Memorandum. Phnom Penh. Yang, L. (ed.) 2011. Cambodian PM sacks fishery chiefs in 5 provinces. Xinhua News Agency (available at http://news.xinhuanet.com/ english2010/world/2011-07/01/c_13961037.htm).
: business models in Ghanaian agriculture 1 1. Introduction This chapter is divided into two sections. The first section presents an analysis of FDI flows bringing out key issues and impacts on the Ghanaian economy. In the second section, an assessment is made of two business models used by private investors in Ghana drawing on case studies from: i) the Integrated Tamale Fruit Company (ITFC) to illustrate the nature and issues in a model involving collaboration between a private company and local farmers through a nucleus estate and out-grower scheme for the production of organic mangoes; and ii) the Solar Harvest Ltd (formerly Biofuel Africa Ltd) which provides an example of a production model centred on largescale plantations. 2. Analysis and impacts of private investment flows to Ghanaian agriculture Several studies 2 have provided some excellent reviews of trends in FDI inflows to the Ghanaian economy from 1970 to 2003. However, in the period since 2003 which has witnessed increased attention by private firms to invest in large tracts of land for agricultural related activities and a huge turnaround for the Ghanaian economy, very little reliable information is available. 1 This chapter is based on original research reports produced for FAO by John Bugri and Adama Ekberg Coulibaly. 2 Foreign direct investment flows to Ghana, Yaw Asante. p.102. In foreign direct investment in sub-Saharan Africa: origins, targets, impact and potential. Edited by s. Ibi Ajayi. African Economic Research consortium. Nairobi. Kenya. 2004. In Ghana, the period of 2003-2008 witnessed a significant increase in FDI inflows compared to the previous decade, with FDI growing from the level of US$167 million in 2003 to US$2.1 billion in 2008 within a span of about 5 years (Figure 1). With this trend, Ghana has outperformed several competitive West African FDI destinations including Senegal and Côte d’Ivoire, the two leading economies of the West Africa CFA zone. This remains true despite the onset of the 2007/8 global economic downturn which negatively affected global FDI trends. Furthermore, in a survey conducted for Ghana in 2008 (see Aryeetey et al. 2009), 35 percent of the Multinational Enterprises companies covered indicated that macroeconomic and political stability were the most important factors influencing their decision to locate in Ghana. Other reasons given were market size, potential for growth and extent of natural and physical resources in the country, etc. Tables 1, 2 and 3 provide a summary of the FDI related projects registered by the Ghana TABLE 1 Values and number of FDI projects registered with GIPC in Ghana Number of projects (%) Values, millions $ Source: Ghana Investment Promotion Centre (GIPC) (%) Agriculture 78 5 110.7 1.0 Building 129 8.2 2 221.8 19.8 Export Trade 64 4.1 21.8 0.2 General Trade 318 20.2 987.7 8.8 Liaison 79 5 10.5 0.1 Manufacturing 401 25.5 7 211.4 64.3 Service 370 23.5 595.9 5.3 Tourism 136 8.6 52.8 0.5 TOTAL 1 575 100 11 213 100 191
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TRENDS AND IMPACTS OF FOREIGN INVES
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Trends and impacts of foreign inves
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Acronyms ABRAF Brazilian Associatio
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EAC East African Community EC Execu
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JV Joint Venture Kascol Kaleya Smal
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PTF Privatization Trust Fund PTS Pe
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Foreword Large-scale international
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xvi Page 4. The business climate fo
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xviii Page 4. Investments by transn
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xx Page 7. Conclusions and recommen
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xxii Page SENEGAL: ASSESSING THE NA
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xxiv Page PART 5: SYNTHESIS OF FIND
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TANZANIA: ANALYSIS OF PRIVATE INVES
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ZAMBIA: INVESTMENT IN AGRICULTURAL
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xxx Page Table 4 Foreign investment
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xxxii Page Table 5 Additional tax b
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PART 4: BUSINESS MODELS FOR AGRICUL
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P A R T O N E INTRODUCTION
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1. Introduction 1 Foreign Direct
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FIGURE 2 Trends in FDI-African case
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FIGURE 6 Average annual growth in c
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FIGURE 9 Share of agriculture in to
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FIGURE 12 FDI flows to agriculture
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FIGURE 18 Agricultural Investment i
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Improving the business climate for
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BOX 1 A brief history of FDI in Bra
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BOX 2 TNCs and the Brazilian agrifo
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BOX 3 Monsanto Company Part 3: Poli
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BOX 5 International Paper Company P
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the same time, conserving natural r
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CHART 2 Factors that contributed to
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TABLE 3 Performance of Brazil for s
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BOX 6 Checklist for Foreign Direct
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factors that affect, lead to succes
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CHART 4 PROMECIF phases cycle Phase
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the priority indicators within thes
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73 rd in a total of 182 countries e
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Sutainable Development: Lessons fro
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World Bank. 2009. Awakening Africa
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TANZANIA Trends and impacts of fore
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: Foreign investment and agricultur
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the two data sources are compiled o
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survey (accounting to approximately
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Students are entitled to tuition fe
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Free Trade Agreement (TAFTA), was s
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Germany, Switzerland, United Kingdo
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FIGURE 1 Investment promotion polic
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percent of GDP in 2001considerably
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Philippines indicate their signific
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TABLE 4 Foreign investment approved
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TABLE 6 Export-oriented FDI in the
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followed by fisheries, livestock an
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FDI and employment The impact of FD
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TABLE 12 Employment generated by fo
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BOI investment promotion policy are
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National Food Institute of Thailand
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: Analysis of private investment in
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FIGURE 3 Value of planned foreign i
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TABLE 1 Investment incentives, Ugan
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TABLE 3 Summary of enterprises in c
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Over 95 percent of the total annual
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CHART 1 Uganda coffee value chain C
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CHART 2 Value chain of chrysanthemu
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CHART 3 Value chain for fish proces
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Page 209 and 210: TABLE 7 Distribution of ELCs by nat
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Page 239 and 240: TABLE 6 Ease of doing business in G
Page 241 and 242: TABLE 8 Selected indicators of the
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Page 271 and 272: percent); and students, undoubtedly
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ESIAs. The mass influx of foreign i
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objectives, but the contract makes
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in the sugar sector. The aim was to
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stresses the government’s respons
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covering 857 hectares of land, plus
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Final remarks about project design
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As a result, activities to implemen
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and rural electrification (Agence M
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shareholders began to ask questions
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so far. The revenues received from
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were allocated to investment projec
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family farmers to have access to le
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SENEGAL Trends and impacts of forei
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ZAMBIA Trends and impacts of foreig
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The findings of the studies present
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3. The significance of business mod
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were introduced to enhance producti
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The presence of enabling factors is
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5.8 Type of production system and c
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The available data confirm that the
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the project. This situation increas
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debates on resource-seeking foreign
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programmes for government officials
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EDITED BY: Pascal Liu Suffyan Korom
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TRENDS AND IMPACTS OF FOREIGN INVESTMENT IN DEVELOPING COUNTRY AGRICULTURE

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