CAB sparks investors' interest-A A +A
Tuesday, April 22, 2014
AN INFLUX of interests from foreign investments in Mindanao has been observed after the signing of the Comprehensive Agreement on the Bangsamoro (CAB), an official said.
"There is now a new level of optimism in Mindanao due to the signing of the CAB. We have observed a strong entry of interested and potential investors lately," said Gil Dureza, regional head of the Bureau of Investments (BOI), during Monday's edition of Kapehan sa Dabaw at SM City Davao Annex.
Dureza said, to date, their biggest potential investor they have entertained is from Malaysia who is interested in investing in the oil palm industry.
"They are looking for a 100,000 hectare land for their plantation," he said.
There is also an inquiry from another Malaysian company who will put up a manufacturing and assemply plant of car parts in the island.
"They are still on the process of doing a study and finding a suitable location for their plant," Dureza said.
He also said there are also European companies who are interested in investing in the busisness process outsourcing industry in the island. There are also manufacturing companies from China who are interested in putting up manufacturing plants in the island.
Dureza said there are still a number of things needed to be done to improve the business climate of the island. (RJL)
Published in the Sun.Star Davao newspaper on April 23, 2014.