Minda helps strengthen investment promo offices-A A +A
Thursday, July 17, 2014
THE Mindanao Development Authority (Minda) has vowed to capacitate local investment promotions offices (Lipos) in coming up with investment proposals as part of its initiative to strengthen these agencies.
Romeo M. Montenegro, Minda director of investment promotions and public affairs, told reporters yesterday that they have been conducting capacity building for various Lipos of local government unit (LGU) in Mindanao, from the provincial to the municipal or city level.
Montenegro said they have started the capacity building in Davao Region, Northern Mindanao, and Soccsksargen. The same will soon be done in the Caraga Region.
He said one of the main objectives of this initiative is to help Lipos come up with a viable investment proposal which they can match with foreign investors.
Initially, they will match them with investors from Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-Eaga) and Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT).
"This is part of our preparatory activities in terms of generating investment opportunities in the region and also generating possible interest from target countries," Montenegro said.
He said through this initiative, they will be able to directly link the Lipos to investors who are interested to invest in their respective areas.
"This is all part of the Inclusive growth program in terms of making sure that we are able to strengthen, at the LGU level, investment promotions capacities," Montenegro said.
He said this will allow LGUs to have the capability to package projects that Minda can match with potential investors.
Pauline Anne B. Ferrero, development management officer 2 of the Investment Promotion Division of Minda, said there are some 10 Lipos that are very active in Mindanao.
She said most of these are located on the island's major cities or towns that have a significant number of investors coming in or active in investment promotions like General Cantos City, Tagum City, Davao City, and municipality of Sta. Cruz.
"These active cities are really the ones who are able to seize the opportunities of investments. We wanted all other cities or areas in Mindanao, that have the viable products and investment opportunities to experience the same experience [of cities with Lipos]," Montenegro said.
He said they are doing the strengthening of the Lipos in partnership with the Department of Trade and Industry (DTI) and the Bureau of Investments (BOI).
Published in the Sun.Star Davao newspaper on July 18, 2014.