Compostela claims Chinese set to invest

Subscribe Now December 12, 2011 at 09:05am

Chinese investors have expressed interest in agribusiness and mining in Compostela Valley, said Gov. Arturo T. Uy who led a provincial trade mission to China last month. In an e-mail sent to BusinessWorld, the provincial information office said investors from Xiamen are looking at the town of Laak as a possible site for a banana plantation.

“They have expressed willingness to invest after they were briefed by Mr. Uy on the business opportunities in his province,” the statement said, adding Chinese investors are already planning to visit the province although they have yet to specify a date.

“We are looking forward to their visit to see the potentials of our province,” Mr. Uy said in a text message.

Compostela Valley, carved out of Davao del Norte in 1998, is second only to its mother province in terms of banana plantation investments. The province is home to big banana-exporting companies as its hinterlands, particularly Maragusan, have suitable climate for large-scale banana plantations.

Mr. Uy added that Chinese investors are also looking at other investment opportunities in the province such as mining. Both the regional offices of the Department of Trade and Industry and the Mines and Geosciences have confirmed that representatives of Chinese mining companies have been doing studies on mineral prospects in Compostela Valley and Davao Oriental.

Source: bworldonline.com



« P15 wage increase for Davao approved Bauhaus opens in Davao »