BIMP-EAGA investment conference set in Davao

Oct. 06, 2007

DAVAO CITY — Various industry stakeholders around Brunei, Indonesia, Malaysia and the Philippines-East Asean Growth Area (BIMP-EAGA) had already signified their participations to the First Investment Conference of the BIMP EAGA slated at the Marco Polo Hotel on October 22 to 23, 2007.

According to the host organizer, the Mindanao Business Council, the first to sign up for the trade exhibit is the Philippine Mining Development Corporation (PMDC) which is looking for joint venture partners for the development of its mining projects in Davao del Norte and Diwalwal in Compostela Valley Province.

The report of the Mindanao Economic Development council (Medco) indicated that the private sector players from natural resource development cluster that signed up for the conference also include those from the areas of bio-diesel production from jatropha. Other products are on banana chips processing, as well as on coco coir, abaca and rubber.

Other areas up for joint venture programs are on the field of transport, tourism, and SME development.

The Medco report also said that interested participants already submitted their pre-business matching arrangement forms which are a pre-requisite for participating buyers, sellers and business proponents in the BIMP-ICON trade and product exhibition as well as business matching activities.

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

The proposals that were submitted are on the establishment of the Mindanao Virtual Science and Technology Park, Ecotourism development projects in Palawan, and Biomass Water Utilization Project and Rubber Processing Zone in Davao City.

The first BIMP icon is spearheaded by the BIMP EAGA Business Council (BEBC) through its focal organization in the Philippines, the MinBC, the Department of Trade and Industry, and Medco in cooperation with the 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 were also invited to the conference.

The investment conference will focus on four thematic areas for development namely on natural resource, small and medium enterprise, tourism, transportation, infrastructure and communication and local growth areas on enhancement of competitiveness.

Medco said that the BIMP EAGA icon is among the highlights of the 15th Senior Officials and 12th Ministers meetings and other related events held October 22-28 in the cities of Davao and Koronadal

Medco also announced that interested proponents may submit project proposals and concept papers to the DTI-National Economic Research and Business Assistance Center (DIT-NERBAC) Davao on or before October 15 for the pre-matching arrangements. Participants to the investment exhibit may sign up through the BIMP-iCON website, (PIA/prixdbanzon)

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