South Korea: Hand-in-hand from strength to strength

02.07.2024

The Hand-in-Hand Initiative (HIH) supports the development of country-led programmes to accelerate agrifood systems transformations by eradicating poverty, ending hunger and malnutrition, and reducing inequalities, towards achieving the SDGs.

Launched in 2019, it is a flagship of the Organization and one of its core priority programme areas. As of June 2024, 72 countries are actively involved in and benefitting from the initiative. At the Hand-in-Hand Investment Forum 2023 (HIH – IF), countries were seeking USD 16.5 billion in agrifood investments, with a reported 2.4 billion now committed or in negotiation. And, as of then, HIH had over 154 million beneficiaries.

HIH uses innovative geospatial mapping techniques and data analysis, along with building strong partnerships. By doing this, HIH helps transform agrifood systems by creating more opportunities. As a result, HIH’s work raises incomes, improves the nutritional status and wellbeing of poor and vulnerable populations, and strengthens resilience to climate change.

In the Republic of Korea, from 20-21 June, five countries in the Asia-Pacific region presented their prioritised agrifood investment proposals, ahead of the HIH - IF 2024 planned from 15-17 October at headquarters.

Jong-Jin Kim, ADG and Regional Representative for Asia and the Pacific, opened the event, congratulating participants on this important moment and highlighting the Investment Forum's potential to drive transformative change in the region's agrifood systems.

Shengyao Tang, FAO Representative to the Republic of Korea, opened the event, stating, “Korea is a country that has achieved a lot of experience and development in the agricultural field.” He further explained, “I hope to communicate face-to-face and build a network.”

This event presented opportunities for cooperation and investment in Cambodia, Nepal, Pakistan, Papua New Guinea and Vanuatu. Korean stakeholders were able to increase their understanding of HIH and learn more about each country’s prioritised national agrifood investments.

Nepal has been involved in the global HIH Investment Forums since 2022 and has called for investment in the country’s agrifood systems to empower communities for dignified and decent jobs with access to healthy diet for all, and to mitigate carbon emissions and promote adaptation, ensuring environmental sustainability and conserving biodiversity.

Nepal presented their four priority investment areas - large cardamom, Timur (Sichuan pepper), highland potato and Pangasius fish. Each of these crops has a “Climate-Smart” plan to be implemented, which includes actions such as installing modern and eco-friendly drying and processing facilities, warehouses and more efficient irrigation systems, improving pest and water management systems, and increasing training and capacity building in various sectors.

Just like Nepal, each country involved in this event offers a very suitable environment for agrifood transformation, with the necessary investment.

Vanuatu, involved in Hand-in-Hand since last year, spoke about possibilities with regards to their agrifood investment priorities, cacao, taro, and manioc. Antoine Ravo, Director of Department of Agriculture and Rural Development of Vanuatu, explained how the government is extremely committed to developing high potential value chains and that Vanuatu has an experienced and growing labour force.

For Cambodia - a member of HIH since 2023, agrifood systems development is one of the six priorities for the prime minister and the government of Cambodia.

Cambodia presented their investments proposals on rice, cashew and cassava, through their investment plan, nearly 34 000 people could benefit from increased incomes.

Pakistan also presented their case for agrifood investment at the forum, one which included many important outcomes since their involvement last year in the HIH - IF. Amir Mohyuddin, Senior Joint Secretary of the Ministry of National Food Security and Research of Pakistan, emphasised the forum's value in showcasing the country's agricultural potential and expressed his gratitude for the opportunity to connect with potential investors.

As a direct result of Pakistan’s active participation in HIH - IF 2023, many investments were mobilised, including USD 2.5 million for locally sourced tomato pastes through corporate farming, USD 4.3 million for the commercial development of oil seeds and USD 2 million towards market linkages and cold storage.

Pakistan also became the first country in South Asia to export heated beef to China this year. In preparation for HIH – IF 2024, Pakistan also expects to see investment in six areas: potato, sesame, soybean/canola, beef, aquaculture and grain storages.

In the case of Papua New Guinea, the country will be joining the Global Investment Forum for the first time in 2024, hoping for outcomes as beneficial as those seen by other countries and regional initiatives.

Papua New Guinea’s investment plans covered three priority crops – vanilla, cocoa and coconut. In the country, these three crops make up the livelihoods of over 570 000 households. Investment in these supply chains could benefit more than 1.8 million people, both directly and indirectly.

Overall, the HIH – IF, including this event in the Republic of Korea, has demonstrated the extraordinary potential for collaboration between investors, countries and regions in the agrifood investment field.

With continued engagement and a focus on data-driven decision-making, the many successes of these national forums and the Investment Forums held at headquarters each year help move towards a more sustainable future for all.

“This event has been very useful for our HIH Members to have the opportunity to link with a range of Korea-based investors and partners to increase opportunities for investments into the government-led agrifood investment programmes through innovative partnerships and engagements”, advised Anthony Bennett (DDC), coordinator of the HIH Initiative. He continued, “we look forward to welcoming more investors to participate in the upcoming global Hand in Hand Investment Forum.”

Register for the Hand in Hand Investment Forum 2024, from 15-17 October.

For more information about HIH and country engagement, see here.