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Book (series)Due diligence, tenure and agricultural investment - A guide on the dual responsibilities of private sector lawyers in advising on the acquisition of land and natural resources
Second edition
2019Also available in:
No results found.This guide examines the responsibilities of private sector lawyers in avoiding and addressing, preventing and mitigating adverse human rights impacts on tenure right holders when advising on agricultural investments. These responsibilities arise under international standards for the protection of legitimate tenure rights, including the UN FAO Voluntary Guidelines on the Responsible Governance of Tenure of Land, Fisheries and Forests in the context of national food security (VGGT), as considered within the framework of international human rights laws which underpin aspects of those standards. In the light of the United Nations Guiding Principles on Business and Human Rights (UNGP), the guide considers the dual responsibility of lawyers in this context: (1) through the impact of these standards on the professional duties of the lawyer (including in-house counsel) towards the investor client and (2) through the impact on the law firm’s responsibilities as a business in its own right, in the light of its corporate social responsibility (CSR) commitments. The guide examines the requirements for due diligence in this context and makes a number of recommendations to promote compliance with UNGP on behalf both of the investor client and of the law firm, considered as a business in its own right. -
Book (stand-alone)Operationalization of fish auction market feasibility study 2011
Also available in:
No results found.With an EEZ of 1.9 km2, the Government of Mauritius envisions the land based oceanic industries as a strategy for extracting more value from the ocean to spearhead sustainable economic growth. Development of the seafood hub, the marine fisheries and aquaculture are the landmarks of the aforesaid strategy. In 2007 the Ministry of Fisheries and Rodrigues (MOFR) has precipitated the development of an electronic fish auction market at Fort William without any feasibility study and/or a business mode l. Actually construction works are completed and installation of electro-mechanical and refrigeration equipment is underway at a total cost of Rs 35 million. An additional capital investment of about Rs 15 million would be required for the acquisition of an electronic fish auction system and associated equipment to enable the operationalization of the facility. The parent Ministry reckons that it is not within its prerogative to be directly involved in the operationalization of the fish auction market on account the commercial / business orientation of the latter. It intends to procure a private operator-cum-investor to operationalize the facility through a Public-Private Partnership model. The present study has been commissioned by the MOFR to perform a techno-economic appraisal of the project in view to chart out appropriate operationalization strategies for the project. The fish auction at Fort William is designed to deal in fresh / chilled fish harvested by the domestic fisheries b ut an in- depth supply analysis has concluded that this is not feasible for various reasons. All the same, the facility is not adequately located and equipped to auction frozen by-catch of foreign tuna long line vessels which is available in sufficiently large quantities at the fishing port. Therefore the project is techno-economically unsustainable unless it is overhauled. According to the By-catch regulation 2004, all licensed foreign tuna long line vessels have an obligation to land their by- catch at the Agricultural Marketing Board (AMB) Cold Storage Facility at the fish docks while non-licensed visiting vessels have no obligation whatsoever unless the market conditions are attractive. The total annual supply of frozen by-catch in Mauritius estimated between 4000 and 9000 metric tonnes. To take advantage the market opportunities, the business model of fish auction facility to be adjusted to frozen by-catch trade and in this process the 300 tonne AMB cold storage facility at the fis h docks of Fanfaron will have to be amalgamated with the FAM. The refrigeration system installed at the FAM will be operated as an Ice-flakes Production Unit on a commercial basis. It will cater for effective demand of ice-flakes arising from the artisanal and semi-industrial (chilled) fisheries as well as fish marketing structures in its surrounding. However the administrative centre including the electronic backbone of the auction system will stay at Fort William. S.W.O.T analysis of the proje ct has concluded on two critical points which are: -The frozen by-catch is a secured business under the By-catch Regulations and the Licensing Policies of foreign tuna long line vessels. Government commitment to this project is a key determinant for the success of the project. -The major weakness of the project is the lack of local expertise and familiarity in electronic fish auction that can be obviously compensated by a proven foreign operator –cum-investor through a suitable PPP model or a st rategic alliance by means of a Joint Venture. investment The feasibility study of the FAM is prepared in a conservative approach. The total Public Investment is re- adjusted at Rs 25 million to reflect its actual market value. Additional Private Investment is estimated at Rs 15 million. The opportunity cost of long term public borrowings is taken at 6%, which is slightly higher than current financial market rates and that of the private project loans, at 10%. A weighted mean discounting factor o f 7.75 % is used to examine the Net Present Value (NPV), Internal Rate of Return (IRR) and Break-Even (B/E) points of the project. The life cycle of the project is assumed at 15 years. Supply of by-catch supply for the first year of operation is projected at 1500 metric tonnes with and increment of 10% per year for the consecutive years. The mean market price of by-catch fish species is taken at prevailing international ex-vessel price including a price inflation rate of 5% per annum. Auction fe e is projected at 10 % of the primary sale price. The Ice-flakes Production Unit (IPU) will operate at 50% of its installed capacity which is minimal. -
Book (stand-alone)Expert meeting on international investment in the agricultural sector of developing countries
Report
2011Also available in:
No results found.An expert meeting on international investment in the agricultural sector of developing countries was held at FAO’s headquarters on 22-23 November 2011. The objectives were to review the current state of knowledge including recent case studies, identify good practices, determine the areas where further research is needed and plan the next steps. 42 experts analyzing investment in agriculture participated in the meeting. Recommendations for further research were given including: more evidence on t he impacts on food security, environmental impacts and gender-disaggregated analysis of investments; development of a common typology using business model as an entry point; more meta-analysis; considerations of time frames and geographical scales; analysis of the interrelationships between various forms of investments; and the need of more regular interaction among researchers and analysts. The meeting provided recommendations to organizations that provide support to actors involved in agricult ural investments including: analyze the needs in terms of capacity building, policy advice and technical support; provide guidance in analyzing investment proposals and making informed choices; help governments formulate policies that orient FDI in directions that enhance smallholder investments and livelihoods and national food security; strengthen the capacity of local communities, farmer groups and others to analyze and negotiate projects; support inclusive negotiation processes; assist gover nments in developing agricultural development strategies that focus on sustainable food security; identify schemes that reconcile the development objectives of host countries and local communities with the commercial objectives of investors; raise the awareness of investors on the importance of a responsible investment to their own business interests; engage them in the development and implementation of guidance tools such as the principles for responsible agricultural investment.
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