Japanese investors eye Mindanao Philippines

General Santos City, Philippines - Dec 2, 2005

Japanese investors expressed keen interest on the tourism and investment potential of Mindanao, the Philippines southernmost region.

According to Secretary Jesus Dureza, chairman of Mindanao Economic and Development Council (Medco), several major Japanese companies are looking into setting up ventures with local small and medium enterprises to expand their operations in the region.

Secretary Dureza attended the investment promotions seminar held in Tokyo, Japan last week.

The investment forum, which was initiated by BIMP-EAGA region (Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area), aims to foster tourism, trade and investment partnerships as well as economic cooperations between the sub-region and Japan.

Dureza personally invited various Japanese investors to explore expansion opportunities in Mindanao, which is the lead area for small and medium enterprise development, and capital and human resource formation in the BIMP-EAGA.

"The Japanese are our long time trade allies here in Mindanao. But this time we are looking at strengthening these linkages and promote more vibrant trade exchanges," he said in his weekly radio program "Kalinaw para sa Mindanao (Peace for Mindanao)."

In a press statement, Dureza noted that the Japanese business sector was impressed with the implementing strategies used in accelerating growth and development in BIMP-EAGA.

In particular, the Japanesr investors are keenly interested on the region's four priority clusters - transport and infrastructure development, natural resource development, joint tourism development and SME development/capital formation and financial services.

Source: PNA

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