|Agribusiness firms eyeing P400-M investment packages|
|Written by DA-Press Office|
|Friday, 11 December 2009 00:10|
Government and business executives are now in further talks with agribusiness proponents on some P400 million-worth of investment packages that the prospective investors have expressed interest in during a recent National Convergence Agri-Investment Forum in Makati City .These investment packages cover assorted areas such as coconut oil production, organic garlic production and processing, mushroom production and expansion, and corn postharvest processing, according to Marriz Agbon, president of the Department of Agriculture’s Philippine Agricultural Development and Commercial Corp. (PADCC) and secretariat head of the tri-agency National Convergence Initiative.
Potential investors invited by DA Secretary Arthur Yap are eyeing 13 of 17 investment packages that were presented to them, said Agbon, during the National Convergence Agri-Investment Forum held last month at the Asian Institute of Management (AIM) in Makati .
“Follow-up meetings and more detailed discussion of the proposals are now being scheduled between the investors and the proponents,” Agbon said.
The AIM gathering was the first-ever agri-investment forum sponsored by the National Convergence Initiative, which comprises the DA and the Departments of Agrarian Reform (DAR), and of Environment and Natural Resources (DENR).
Agbon said that potential investors have expressed interest in “investing in one or more of the proposals presented during the forum. Thirteen out of 17 proposed projects met the requirements of investors present during the event.”
“They want to see and visit personally the farm sites of palm oil plantation.”, said Ms. Loreta Garcia of Alicia Community Multi-Purpose Cooperative (ACMPC). ACMPC is the proponent of Market Support Services to Palm Oil Production in Alicia, Bohol .
The cooperative was able to meet with Son Bo Ram of the Korean Chamber and CCALS International, a Philippine-based raw material trading firm. CCALS also had a chance to meet with the proponents of Rubber Production Maintenance and Marketing proposed by Tungawan ARB Multi-purpose Cooperative (TIMARBEMCO).
Representatives from Agri Nurture Inc. (ANI), Philippine Chamber of Commerce and Industry (PCCI), Development Bank of the Philippines (DBP), Landbank of the Philippines (LBP) and Qatar Embassy also participated in exploratory talks on agribusiness investments opportunities particularly on the proposals prepared by the regional Convergence Initiative Technical Working Groups throughout the Philippines .
DAR Undersecretary Rosalina Bistoyong explained how agrarian reform communities can be a vehicle for rural investment followed by DENR Undersecretary Manuel D. Gerochi who discussed the investment opportunities in the upland development program.
With the continuous collaboration of the three government offices, sustainable economic growth in the country is indeed attainable, Agbon said.
The event was also made possible with the support from the following agencies: German Technical Cooperation (GTZ) - an international cooperation enterprise for sustainable development with worldwide operations, Agencia Española de Cooperacion Internacional para el Desarrollo (AECID) or Spanish Agency for International Development Cooperation, and the Philippine Agricultural Development and Commercial Corporation (PADCC) - the designated agribusiness investment promotion and marketing arm of DA.
|Last Updated on Tuesday, 30 March 2010 03:10|