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The Financial Express

Private sector urged to exploit farming potentials in Africa

| Updated: November 14, 2022 08:33:04


Private sector urged to exploit farming potentials in Africa

The private sector entrepreneurs of the country should play a more proactive role in exploring the potentials of farming in Africa, Foreign Secretary Masud Bin Momen told reporters after a meeting on Sunday.

The Bangladesh Institute of International and Strategic Studies (BIISS) organised the discussion on farming prospects in Africa.

He said the government and stakeholders are devising ways and means to kick off contract farming in several African countries.

Concerned experts have been putting emphasis on starting contract farming in Africa for the last few years, as it will pave the way for huge employment opportunities for Bangladeshi workers in those countries.

However, the foreign secretary pointed out several challenges in initiating the farming process.

He mentioned that several rules and regulations should be devised before Bangladesh would start farming, and such adjustments to regulations are required in both the host countries and Bangladesh.

The foreign secretary said, "We need to sign MoUs with the African countries."

"And the modus operandi for the farming process should also be chalked out, including the issue of protection of Bangladeshi workers in the host countries."

We have provided foreign investors with the opportunity to repatriate profits. Similarly, such a system should be there for Bangladeshi entrepreneurs, Mr Masud added.

Officials of the ministry said that Bangladesh Bank should also take some measures to facilitate contract farming by Bangladeshi entrepreneurs in Africa.

The private sector entrepreneurs mention that presently there are some restrictions on investing money in foreign countries.

That issue of cultural and linguistic sensitivity was also mentioned by the foreign secretary.

Narrating the challenges, he said there are several countries of different colonial origins in Africa like the French colony, British colony, and they have separate cultures.

These sensitivities should also be kept in mind before initiating the farming process, he added.

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