In bid to revive Eaga, businesses turn to foreign donors
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By Germelina A. Lacorte
Davao Today
DAVAO CITY — Three foreign donors are interested in financing business projects in the East Asean Growth Area (Eaga) in the areas of tourism, transport, infrastructure, natural resources, communications and small-meduim enterprises (SME), assistant trade Secretary Merly Cruz said this week.
Cruz said millions of US dollars in funding are now being earmarked by the Asian Development Bank (ADB), the German Technical cooperation (GTZ) and the Australian Agency for International Development (AusAID), as governments from the four Eaga countries of Brunei, Indonesia, Malaysia and the Philippines try to revive interest in the economic subregion by encouraging businesses to take off.
Top BIMP officials are set to gather here this month for the 15th Senior Officials and 12th Ministers Meeting, which will feature an investment forum to drumbeat business interest in the Eaga.
She said the matching of venture projects from the region with international funding agencies scheduled during the investment forum is a big opportunity for the private sector in the four countries.
“We have all the plans and programs set up and ready to go, but we still have to see the private sector take full advantage of so many opportunities for new projects they can put up in the Eaga,” Cruz said in a statement announcing the gathering slated on October 22 to 23 at the Marco Polo Hotel-Davao.
Cruz said the success of BIMP-Eaga depends on how much these traders and investors are attracted to opportunities being opened for them “and whether or not they will take full advantage of all these opportunities”
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