Davao City -The foreign chambers of commerce and industry here are pushing for the development of the Southern Mindanao Growth Corridor in this part of the country.
According to Philip Dizon, president of the American Chamber of Commerce in the Philippines (Davao chapter), the growth corridor encompasses the areas from Davao Oriental to South Cotabato.
Dizon said Amcham, the Japanese Chamber of Commerce in Mindanao and the European Chamber of Commerce in the Philippines have forged together for the further development of the said corridor by exploring its investment potentials.
The three chambers have agreed to draw around 200 investors to look at the possible investment sites and discuss opportunities in the said corridor especially with the expected integration to the larger market of the Association of Southeast Asian Nations by 2015.
Dizon said an investment forum is slated on Sept. 19 envisioned as an annual assembly of businessmen, and policy makers with a common interest in exploiting the potential of the Southern Mindanao Region.
He said companies with interests in the fields of finance, infrastructure, property development, power and utilities, agriculture and business process outsourcing are invited to come.
"One of the major foci of the forum will involve the business matching where potential investors are introduced to resources and partners required to bring investments to realization," Dizon said.
Keisuke Nakao, president of the Japan Chamber of Commerce and Industry, said Mindanao has vast potentials in agricultural production given its good irrigation system.
He said the good irrigation system can lead to production of variety of agricultural products.
Martial Beck, vice president of the European Chamber of Commerce in the Philippines, said Cacao industry in the Philippines is growing with many countries in Europe sourcing their chocolates in the country.
He said cacao, coffee and coconut are agricultural products are sought after products from Mindanao.
Gil Dureza, regional head of the Board of Investment in Davao region welcomed the forged agreement among the chambers and looked forward that the merger will lead to tangible results like more investors that will tap the improving peace and order in Mindanao following the signing of a comprehensive peace agreement between the government and the Moro Islamic Liberation Front.
He revealed that currently, foreign investors from Malaysia and Indonesia are focused on palm oil production and manufacturing.
"These companies need big tracts of land," Dureza said.
He said companies from Europe are inquiring about business process outsourcing in Davao region while companies from China are inquiring about manufacturing.
Dureza said member countries of the Brunei, Indonesia, Malaysia, and Philippines East Asian Growth Area will also hold a conference in September.
"Hopefully, these activities will spur more the development in Mindanao in alleviating poverty and integration of combatants after the signing of the peace deal and the impact of calamities brought about by typhoons," he said.
Source: The Philippine Star, 23 April 2014
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