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Saturday, September 27, 2003
OFWs identify areas for investment in RP
THE Economic Resource Center for Overseas Filipino Workers (ERCOFW) identified priority areas of investment in the country and hopes to establish agriculture-related ventures within these areas by next year, Federation of Overseas Filipino Workers of Region 11 (Fofwore) past president and board of trustee member Ramon Naguita said Friday in an interview.
"Two investment projects have been identified here in Mindanao, one in Igacos and Bansalan," Naguita said, adding that the ERCOFW as well as the OFWs themselves are planning to set up businesses in Mindanao due to its favorable climate and bountiful resources.
The projects, Naguita said, involves the creation of a mariculture development project in Island Garden City of Samal (Igacos) and the setting up of a mango puree processing plant in Bansalan, Davao del Sur.
At least five OFWs have committed to fund the proposed P12 million initial cost of the 27-hectare mariculture development project in Barangay Balet, Igacos.
The project entails the establishment of fish cages for the production of groper (lapu-lapu), mud crabs, and lobsters, among others.
DENR has recently denied the application for a environment certificate but the group commissioned by the OFWs said they will try to appeal the decision before the DENR head office.
Naguita said initial works for the proposed establishment of a mango puree processing plant have been done with the representatives of Novib Oxfam, an international funding institution based in the Netherlands surveying the production capacity of mango farmers in Bansalan, Digos, and Makilala.
Naguita said Ercofw sought the aid of the funding agency to materialize the project.
Novib Oxfam is in the process of assessing the cost of the machines for extracting mango puree.
Other investment sites, Naguita said, are Abra, Pangasinan, and Bicol in Luzon, Samar and Cebu in Visayas.
The former Fofwore 11 chair said the focus of investments is sustainable projects and ventures that are agriculture and fisheries- related. CEU
(September 27, 2003 issue)
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