Algeria has begun commercial maize production this year in an attempt to reduce the country’s dependence on imports, and will be soon approving applications from foreign investors looking to invest in the enterprise. Algeria is the world’s fifth largest grain importer with data showing 2013 maize purchases by the country reaching 3.2 million tons at $891.78 million. Algeria’s production is predominantly rain-fed causing grain output this year to be 3.4 million tons, down from 4.9 million tons in 2013 due to drought. To counter this, the Algerian government plans to double irrigated acreage to 2 million hectares over the next five years. These moves are all in an effort to attract foreign investors and to diversify the country’s economy which relies heavily on oil and gas. Two years ago Algeria invited applications from foreign investors interested in farming enterprises. Firms from the U.S., Italy, Britain, and Canada applied, and the Algerian government is stating it is set to approve all applications.
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