Arabs eyeing investments in Mindanao

Manila Bulletin | May 12, 2009

By SARAH JANE R. HILOMEN

DAVAO CITY – Several Arab investors visited this city last week in a mission to look for potential agriculture business in Mindanao where they can pour their investments.

A 26-man delegation composed of officials from the Ministry of Agriculture of the Kingdom of Saudi Arabia (KSA) along with 12 investors engaged in agriculture production in KSA, arrived here last Thursday for an RP-KSA Agri-Trade and Investment Mission to the Philippines at the Apo View Hotel, this city.

Fahad A. Bal Ghunaim, head of KSA Ministry of Agriculture, expressed confidence that with both countries united in agriculture, the aim of increasing agricultural productivity is inevitable.

"If we get together and cooperate, we will enjoy the fruits of cooperation and the benefits of cooperative advantages," he said.

As this developed, Agriculture Secretary Arthur Yap expressed optimism that the entry of these Arab businessmen will boost the agricultural productivity of Mindanao in this first major Saudi Arabian agriculture investment in the region.

In his speech, Yap is grateful for the trust of the said Arab investors in the potentials of Mindanao.

"More than opening markets, what’s more important are the friendship, cooperation, trust which are built over time," he said.

Yap is also hopeful that the mission will help the country face a looming food security problem by 2050.

He said that based on the United Nations Food Agriculture Office (UN-FAO) study, the world’s need for food will be doubled by 2050.

"We can’t keep on spending on our own and these foreign investors have the funds. So we are finding a way to convince them to invest in the country," he said.
  • Sign the petition to stop Industria Chiquibul's violence against communities in Guatemala!
  • Who's involved?

    Whos Involved?


  • 13 May 2024 - Washington DC
    World Bank Land Conference 2024
  • Languages



    Special content



    Archives


    Latest posts