Promoting Investment in Agriculture for Increased Production and Productivity. Saifullah Syed

Promoting Investment in Agriculture for Increased Production and Productivity - Saifullah Syed


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all the participants to the workshops and symposium as well as the FAO Liaison Office in Japan and Brighten Institute in Indonesia.

      Datasets on Agricultural Capital Stock and other statistical indicators were revised and updated through the efforts of Dominic Ballayan, Carola Fabi and Robert Mayo of the Statistics Division. We are thankful to Pascal Liu, Suffyan Koroma, Pedro Arias and Massimo Lafrate of the Trade and Markets Division for supervising and guiding the case studies on foreign investment in agriculture and for contributing in the sections dealing with foreign investment, particularly Section 7.4 of this report. We also extend our thanks to Masataka Fujita and Astrit Sulstarova of UNCTAD for their valuable support on the data and analysis of foreign investment in agriculture.

      We are grateful to Calvin Miller, Emilio Hernandez and Nomathemba Mhlanga, the Rural Infrastructure and Agro-industries Division, for their contributions on investment in agro-industries. We are also grateful to Keith Wiebe, Jakob Skoet, Sarah Lowder and Brian Carisma, all from FAO’s Agricultural Development Economics Division, and Daneswar Poonyth of FAO’s Policy and Programme Development Support Division. Special thanks to Peter Hazell (Imperial College, London), Martin Evans, Derek Byerlee, Rita Butzer (University of Chicago), Carlos Seré (International Fund for Agricultural Development), Alberto Valdés (Universidad Católica de Chile), Mahendra Dev (Indira Gandhi Institute for Development Studies), Tewodaj Mogues, International Food Policy Research Institute, Bisaliah Siddinaik, Donato Antiporta and Nasredin Elamin (FAO Regional Office for the Near East and North Africa).

      We would like to thank Richard China, Director, FAO Liaison Office with the European Union and Belgium and David Phiri, Principal Adviser with FAO’s Economic and Social Development Department, for providing guidance on the implementation of the project in their previous capacity as Director, Policy and Programme Development Support Division and Chief, Policy Assistance Support Service, respectively.

      Finally, we would like to thank Ms Rumiana Uzunova for handling the administrative and logistical matters, helping in the preparation of this publication and harmonizing all other project activities.

      Abbreviations and acronyms

ACS Agricultural Capital Stock
AOI Agricultural Orientation Index
BDT Bangladesh Taka
CFS Committee on World Food Security
CIP Country Investment Plan
CSO Civil Society Organization
DRC Domestic Resource Cost
FDI Foreign Direct Investment
G8 Group of Eight
GATT General Agreement on Tariffs and Trade
GDP Gross Domestic Product
GDS Gross Domestic Saving
GFCF Gross Fixed Capital Formation
HDI Human Development Index
IFAD International Fund for Agricultural Development
IFC International Finance Corporation
IFPRI International Food Policy Research Institute
IMF International Monetary Fund
IPA Investment Promotion Agency
MAFF Ministry of Agriculture, Forestry and Fisheries of Japan
MDG Millennium Development Goal
NEPAD New Partnership for Africa’s Development
NGO Non-governmental Organization
ODA Official Development Assistance
OECD Organisation for Economic Co-operation and Development
PER Public Expenditure Reviews
PPP Purchasing Power Parity
PRAI Principles for Responsible Agricultural Investment that Respects Rights
R&D Research and Development
RRA Relative Rate of Assistance
SME Small- and Medium-sized Enterprise
SOFA The State of Food and Agriculture
SPEED Statistics of Public Expenditure for Economic Development
TFP Total Factor Productivity
UN United Nations
UNCTAD United Nations Conference on Trade and Development
UNDP United Nations Development Programme
UNIDO United Nations Industrial Development Organization
VGGT Voluntary Guidelines on the Responsible Governance of Tenure of Land
WDI World Development Indicator
WTO World Trade Organization

      Executive summary

      As food prices increase and many face greater food insecurity, there is global concern about financing agricultural growth in the developing world. Accelerated agricultural growth is not only needed to meet growing global demand for food and energy, but is also seen as the main pathway out of hunger and poverty for many impoverished people and countries.

      Global estimates of the amount of investment needed to achieve acceptable levels of agricultural growth in the developing world vary enormously, but all these estimates far exceed the current trends in investment in agriculture by governments and donors. This report addresses the key questions that need to be addressed if this investment gap is to be filled:

      ■ Who is going to make the required investments?

      ■ Where are the needed resources going to come from?

      ■ What are the policy options to ensure that resources flow to appropriate segments of the agrofood value chain?

      ■ What are the policy options for guiding these investments to enhance pro-poor outcomes?

      SOME NOTABLE FEATURES OF INVESTMENT IN AGRICULTURE

      Investment in agriculture must be viewed in the wider economic


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