BRUNEI is eyeing Mindanao as a production site for its own rice supply.

This, according to Brunei-Indonesia-Malaysia-Philippines-East Asean Growth Area (Bimp-Eaga) Philippine signing minister Jesus Dureza.

"With the economic cooperation of the two countries, the country will soar and boom, especially Mindanao," Dureza said. "Mindanao is being eyed by Brunei for their rice production."

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Details of the joint cooperation, which will also boost the food security of the economic sub group, have not yet been fully divulged.

Aside from a joint cooperation on the production of rice, the Philippines is also in close talks with Brunei for the joint exploration of its aquatic resources particularly mackerel off its coasts.

Stakeholders of the fishing sector in Dipolog City, Zamboanga del Norte have expressed interest in a joint cooperation with Brunei in order to boost the sardine canning industry of the country.

Some stakeholders according to Mindanao Business Council chair Vicente Lao are already planning on putting up a full scale canning plant in Brunei.

The Sultanate, for its part, has openly welcomed the proposed consortium between the two countries, even endorsed by Brunei Darussalam's Sultan Hassanal Bolkiah during the 6th Brunei Darussalam, Indonesia, Malaysia, Philippines-East Asean Growth Area (Bimp-Eaga) Summit in Hua Hin, Thailand.

Dureza, also the Presidential Adviser on Mindanao, bared that a 70-30 percent sharing will be in place with the Filipino stakeholders taking in 70 percent of the equity.

Filipino technology in the processing and canning of sardines will be used in the proposed processing plants. (CPM)