Saturday, December 29, 2007 RP investment rating improving, exec says By Joy Romares-Sevilla
A TOP executive of one of the world's financing institutions last week claimed that the rate of investment in the Philippines, especially in Mindanao, has remarkably improved, better than other European countries like Russia.
Faisal Kasim, chief executive officer of MCC Capital Projects Limited, a United Kingdom-based financing institution, said there is still a lot of resources and opportunities that are just needed for the authority to tap in the country.
"Investment rating of the Philippines is improving, it is pretty better than European countries like Russia," said Kasim who has been traveling in different countries for investment opportunities.
"That is why we invest in this area. MCC will provide 100 percent support for the realization of infrastructure projects in Mindanao," Kasim said.
Kasim and John Tapp, managing director and company secretary of the MCC Capital, were in the city last week for the signing of a Memorandum of Agreement (MOA) with the Mindanao Business Council, chaired by Vicente Lao, and with the Davao Integrated Development Program (DIDP), chaired by Governor Rodolfo del Rosario for the implementation of projects in Mindanao particularly the Mindanao Railway System and the Samal Bridge Project.
Both projects, Kasim said, will have a direct effect to the industry players in Mindanao especially those who are engaged in agriculture.
With the assurance that MCC Capital will pour in substantial amount for the projects after the conduct of studies and the submission of proposals, Lao said MinBC, together with its partners, is hoping that the MOA with the MCC Capital will just be an initial activity.
"We hope that the initiation of this activity will open doors to other funding institutions to also invest in Mindanao," Lao said.
