10 July 2008

If Singapore thinks it can secure its energy and food supplies through foreign ownership of food and energy resources or businesses, then we had better rethink our policies in light of the news below. Nations rich in natural resources will impose strict restrictions on foreign ownership of their resources out of security concerns. In a world with dwindling natural resources and a burgeoning population, these restrictions will become more extensive and intense. The goal for self-sufficiency is imperative.

The United Arab Emirates is seeking to buy farmland in Vietnam, Cambodia, Africa and South America to secure food supplies for the desert country, the economy minister said in comments published on Wednesday. LINK
Russia laid down official limits on the sale to foreigners of shares in strategic and raw materials companies on Wednesday, giving new regulatory force to the government's grip on Russia's natural resources wealth.

The new ruling by the state markets regulator codifies what the Kremlin has long made clear: the government is loath to see more of Russia's strategic and extractive industries fall into the hands of outsiders. LINK