British businessmen eye Mindanao
Posted at Mar 31 2017 01:33 AM
http://news.abs-cbn.com/
DAVAO CITY – British businessmen are interested in investing in Mindanao, particularly in Davao City.
Nelson said that the Philippines has become more known to British businessmen who are seeing the potential of agribusiness and tourism in Mindanao.
“[UK companies] are coming to Metro Manila but now [they are] looking to widen that out. So these thousand companies…want to develop…[and] showcase Mindanao and its opportunities,” Nelson said.
UK Ambassador to the Philippines Asif Ahmad said there is a lot of potential in the country, but stressed the need for better infrastructure.
“You have the best mangoes, pineapples, bananas.I think the natural assets that you have are fantastic. I’ve been to incredible places in the Philippines so I realize the potential so I think the question is improving the logistics from A to B, improving the services that a foreigner would want” Ahmad said.
UK exports to the Philippines grew by 38% in 2015, the second highest worldwide. The UK is also the largest European investor in the Philippines with $1.2 billion in investments, while there are about 250,000 Filipinos in the UK.
Meanwhile, the Mindanao Development Authority (MINDA) hopes to see UK companies investing in Mindanao.
“Mindanao is ripe for new investments,” said MINDA Assistant Secretary Romeo Montenegro.
