- Posted March 5, 2014 by
Peace good for business, says Phl official
“Mindanao (Southern Philippines) now becomes a very fertile area for investments, particularly for agricultural activities," Trade Undersecretary Ponciano Manalo Jr. said.
Manalo added: "In fact, we are developing economic zones and incentives in affected areas in Mindanao to be able to spur economic growth.”
Manalo also said that the region is a fertile ground for palm oil, rubber and coconut production, aquaculture, fisheries, food manufacturing, and other agribusiness activities.
“We can foresee the growth curves that we will have in Mindanao in the next 10 to 15 years. It is clearly an area of growth and development, and while our investment plea is not limited to Mindanao, if you look at spots in the country which are truly going to be big growth areas, then Mindanao is it,” Manalo said.
Manalo, together with representatives from the National Development Company (NDC), visited Jakarta to explore areas of cooperation with the government of Indonesia. The NDC is a government-owned corporation mandated to promote economic development through assistance in commercial, industrial, mining, agricultural and other enterprises.
The group met with state-owned enterprises (SOEs) in Jakarta to pursue initial discussions that started last year when Indonesia’s State-Owned Enterprises Minister Dahlan Iskan visited the Philippines.
Manalo also met with key executives in the agricultural, banking, energy and pharmaceutical sectors.
The business mission yielded positive results, further coordination between Indonesia and the Philippines, and will be followed by a ministerial mission and bilateral discussions with the Indonesian trade minister.