March 01, 2017

BCCP says British Companies to Invest in Mindanao

According to the Chairman of the British Chamber of Commerce, British companies would like to invest in Mindanao as they see huge growth potential for the second largest island in the Philippines.
According to the Philippine Star, BCCP Chairman Chris Nelson said a "private sector delegation composed of exporters and investors will be heading to Davao City by the end of the month to explore business prospects and opportunities in Mindanao."
Ten companies have initially indicated their participation while more are expected to join in the coming days.
These companies have deal with businesses such as agribusiness, information communications technology, infrastructure and energy, all important for Mindanao.
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“The Philippines has been a key focal focus in terms of investment and opportunity by the UK. What we’ve done now is we will look at regional development, take the interest not only to Philippines but to Mindanao. I think that is in line with the government’s overall objective in which it wants to see overall development across the country to bring everybody up,” Nelson said.
Nelson further emphasized that the participating British firms are finding the right market opportunities and the right partner, as well as the ease of starting and doing business in the country.
“We’ve seen development in Davao, Cagayan de Oro and in other cities. In terms of security, we always listen and take the advise of the authority, both local and through our embassy. But I think it’s fair to say that there is that interest level in Davao and CDO,” he said.
Mindanao is the location of some 34 economic zones catering to multiple sectors that provide locators with incentives to set up operations.
In addition, eight out of the 10 Philippine provinces with the highest coconut production are located in Mindanao.