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PIA Press Release
2007/10/04

Traders, investors sign up for EAGA investment confab

Manila (4 October) -- Interested traders and investors from all across Brunei Darussalam-Indonesia-Malaysia-the Philippines East ASEAN Growth Area (BIMP-EAGA) are fast signing up for the conduct of the first BIMP-EAGAInvestment Conference slated here at the Marco Polo Hotel on October 22 to 23.

The Mindanao Business Council (MBC), host organizer of the BIMP-iCon, said here recently that industry stakeholders in the area of natural resources development (NRD), transport, tourism and SME development have recently submitted their pre-business matching arrangement forms, a pre-requisite for participating buyers, sellers and business proponents in the BIMP-iCON trade and product exhibition as well as business matching activities.

The first to sign up for the investment conference exhibit is the Philippine Mining Development Corporation (PMDC) who is looking for joint venture partners for the development of its mining projects based in Davao del Norte and Diwalwal, Compostela Valley.

Private sector players from natural resource development cluster who have signed up for the conference include those from the areas of biodiesel production from jatropha, banana chips processing, coco coir processing, abaca and rubber processing. Exporters of banana and pineapple in Davao City and sellers of pearls, gold, silver and copper jewelries in Zamboanga City in search for buyers of their products are also joining.

Meanwhile, business proponents who are looking for technical and funding assistance have also submitted project proposals for evaluation and consideration of development partners and donor agencies like the Asian Development Bank (ADB), BIMP-EAGA Regional Advisor, the German Technical Cooperation (GTZ), and the Australian Agency for International Development (AusAID).

These proposals are on the establishment of the Mindanao Virtual Science and Technology Park, Eco-tourism development projects in Palawan, and Biomass Waster Utilization Project and Rubber Processing Zone in Davao City.

Undersecretary Virgilio Leyretana, chairperson of the Mindanao Economic Development Council said that the traders interest in the BIMP iCon clearly indicates the private sector strong commitment to take advantage of the emerging opportunities to generate trade and investments across borders.

The 1st BIMP iCon is spearheaded by the BIMP-EAGA Business Council (BEBC) through its focal organization in the Philippines, the Mindanao Business Council (MinBC), Department of Trade and Industry, Mindanao Economic Development Council, in cooperation with Philippine-EAGA agencies and development partner Institutions.

The event is geared towards encouraging more investments, trade activities and tourism exchanges among the member countries by bringing together the business sector and development partners to discuss project ideas and possible business alliances or joint ventures.

Non-EAGA member countries such as Japan, Northern Territory of Australia, Canada, China, The Kingdom of Saudi Arabia, Germany, and the US are also invited to the conference. (OPS) [top]

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