Metals, energy, coffee industry eyed for investment opportunities-A A +A
Tuesday, July 3, 2012
OPPORTUNITIES for investments in the Cordillera Region are being primed by the Regional Development Council (RDC) for local and foreign markets.
The sectoral committee on economic development (Secom on EconDev) of the RDC–CAR will initially focus on the four areas of investment -- metals, energy, tourism, and coffee industry -- for promotion due to their potential and there are existing and prospective markets.
In the initial small group discussion of the Secom on EconDev on the identification of areas of investments in the region, it was agreed that there is a need to shortlist areas of investment and focus on sectors. This is to promote only a few local industries for sustained linkages with investors but with more impact unlike identifying many sectors but could not be sustained.
Myrna Pablo, RDC-CAR Secom on EconDev Chair and Department of Trade and Industry regional director, said a definite project already with investor and market or is market-driven will be a good start.
On the investment opportunities of metal industry, MOOG Controls Baguio which produces aerospace parts is into outsourcing its production.
CAIMTEC, a local private group, has tied-up with MOOG Controls Baguio to venture on the production of some aerospace parts.
The region is rich in energy resources as evidenced by its hydropower plants. According to the Department of Energy, Luzon still needs additional power or about 10,500 megawatts due to fast economic growth in the area.
According to the Department of Tourism, tourism opportunities for investment such as tourism ecozones, historic-cultural heritage projects and ecotourism, agritourism, and health and wellness projects are many in the region.
Coffee thrives well in the Cordillera. The high-value crop which ranks second to oil in the global market commands, high market demand in the local and foreign markets.
The group will prepare and package comprehensive investment materials of metal, energy, tourism and coffee industry designed to attract and match the needs of prospective investors.
Strategies being considered to promote investment opportunities may be through investment conference or investment mission. (Susan Aro)
Published in the Sun.Star Baguio newspaper on July 03, 2012.