The national government must come up with incentives in the setting up economic zones in Mindanao to attract investments, official of the local business group said.
Aside from the seven pilot agro-economic zones (AEZs) endorsed by the Mindanao Development Authority (MinDA) last March, Maria Lourdes Monteverde, Davao City Chamber of Commerce and Industry, Inc. (DCCCII) trustee, said there is also a need for the national government, through the Philippine Economic Zone Authority, to approve pending applications before the agency.
“We have been doing our part in bringing the investors but then the government should also make it in such a way that investors can really expand their businesses here in Davao with the proclamation of these ecozones,”Monteverde said during the Wednesdays @ Habi at Kape-Abreeza last week.
MinDA reported that in 2016, there were 81 identified areas in Mindanao suitable for economic zones that would be conducive for agro-industry, manufacturing, tourism, and information technology.
Arturo Milan, DCCCII president, said there are foreign investors looking for preferable sites to establish their industrial infrastructure in the region. One is a steel company under Panhua Group that is looking for a 300-hectare parcel of land.
Milan said the company has already identified two potential sites.
Milan said it is high-time for Mindanao to be placed as the next potential investment center of the Philippines now that Luzon, specifically Metro Manila, is experiencing problems such as water shortage and traffic congestion.
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