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Wednesday, June 07, 2006
Armm sees increase in investments
THE Autonomous Region in Muslim Mindanao (Armm) is expecting an increase in investments this year as new businesses started coming in.
Ishak Mastura, secretary of the Department of Trade and Industry of Armm, said it raked in some P146 million in investments for the first quarter this year and is still anticipating an increase of 10 percent.
Already in the pipeline, he said, is the banana export project where investments are expected to reach about $30 million.
Total areas planted to banana ranges to 600 hectares that includes new expansion for the growing of the premium exportable fruit.
The fruit, he said, is also sold to Japan, the Middle East and Taiwan with one brand name Chiquita.
Mastura also said they are working for the certification of Halal that will be applied to poultry products and in line with the Halal poultry project jointly initiated by the countries of Brunei, Indonesia, Malaysia and the Philippines East Asian Growth Area (BIMP-Eaga).
He said the four countries decided to pilot the project in the Armm mainly because of the value chain that will be established for the brand.
"It will have an added value when produced in Muslim area but credibility has to be established," he said.
According to Mastura, this year is their target to get the Halal certification and that they are already in the process of choosing 10 representatives to be trained by the Department of Islamic Development Malaysia.
He said the 10 representatives will be trained on standards for compliance on international standards and will be supported by the Japan International Cooperation Agency.
The project will be put up in a 20-hectare in Polloc where contracting parties are meeting in August.
He said each country will put in 25 percent sharing and as earlier reported the Halal chicken industry would cost some P2 billion.
Cooperators also aim to get at least two percent of the Middle East market.
For Bisaya stories from Davao. Click here. (June 7, 2006 issue)
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