Malaysia expects to minimise its dependence on imports of animal feed and lessen the impact of the global food crisis by 2020 under the reciprocal investment policy, Agriculture and Agro-based Minister Datuk Seri Noh Omar said.
One such initiative under the policy was the signing of an agreement between Markmore Group of Malaysia, represented by chairman Tan Sri Halim Saad, and Cambodia’s Paragon Corp, represented by its chairman Marc Perman, here recently.
The two companies, will among others, invest RM2bil to develop 400,000ha in Kampung Cham, Kratie and Mondulkiri.
Noh told reporters that the Government aspired to create a food supply value chain and livestock breeding under the National Agro Food Policy 2011-2020.
“I hope that Markmore will be able to contribute to the agriculture sector in Malaysia, especially in animal feed,” he said.
He said Cambodian firms were encouraged to invest under the reciprocal investment policy, introduced by Malaysia as an alternative to enhance the country’s food supply and strengthen its food security.
Commodities to be brought in under the policy will be regarded as products of Malaysia on condition that they are as a result of the investment and not obtained or bought from a third party.
Noh also said that Malaysia would sign an agreement with Cambodia to facilitate agricultural activities between both countries early next year.
Meanwhile, Halim said the area, which is on a 70-year lease from the Cambodian government, would be planted with corn, soy and sugarcane and the first yield was expected in 2013.
