Davao City — A group of Malaysian businessmen recently flew to Davao City with Agriculture secretary Arthur Yap to look for areas that will be suitable for planting with palm oil.
They made an aerial survey of Compostela Valley Province and inspected ancestral domain areas. In particular, they eyed the municipality of Monkayo, which has a total of 511 hectares planted with palm oil but has a potential area of 10,060 hectares.
The Malaysian investors are interested in setting up a 100,000 hectare oil palm plantation and an oil mill and refinery in the Philippines.
“We are exerting effort in inviting potential investors to check the areas in the country, most especially Mindanao,” said Yap.
The agriculture official escorted the team of Malaysian investors composed of Goh Sigh, Yao Yeng Yew, Bryan Kuok, Jeremy Goon, and Meng Wei Kuok.
The group is also set to visit other areas like Agusan, North Cotabato, South Cotabato, and Ozamis. They are also planning to invest on rice, corn, and other high value commercial crops.
Yap is selling potential areas in Mindanao because of its typhoon-free character, a major requirement of any investor who comes to visit and check out the area. (PIA XI)
