Big firms still reluctant to invest in Mindanao-A A +A
Friday, December 13, 2013
MINDANAO’s energy woes are preventing big investors from setting up their shops on the island, a business leader said.
"The country's improvement in investment gradings has helped attract investors to the country, Unfortunately, Mindanao's struggle with insufficiency in power has (discouraged) some investors," Vicente T. Lao, chair of the Mindanao Business Council, said during Monday's edition of Kapehan sa Dabaw at SM City Davao Annex.
He said some industries like manufacturing and mining need a lot of power for their operations and these are some of the industries that can generate a lot of employment.
"We can’t aggressively pursue these investors because of the problems in energy," Lao said.
Aside from the energy woes, Mindanao should also take into consideration its preparedness to natural disasters.
"We have had unfortunate incidents like typhoons and there is a need to prepare for them. With that, the private sector has proposed for the establishment of the national guard for disasters," Lao said.
He said these guards will be deployed to calamity stricken areas after a disaster. The body is patterned after the national guards in the United States of America who are called to ensure law and order in affected areas.
There should be proper infrastructure for communication, tourism, and investments.
"If all of these are properly done, we have a good opportunity to get a sizeable share of foreign investments to come to Mindanao," he said.
Published in the Sun.Star Davao newspaper on December 13, 2013.