British firms expand in Mindanao

BRITISH companies, which have joint ventures with local firms, continued to flourish and help boost employment while doing business in Mindanao, British Ambassador to the Philippines Asif Ahmad said.

Ahmad said Wednesday in a press conference at Marco Polo Davao Hotel that Gintong Agri Corp., for instance, partnered with local cooperatives in its oil palm venture in Maguindanao. The company is a subsidiary of British-led firm Agricola.

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CULINARY student from JIB Career Foundation special cook of Hito (cat fish) aside from traditional grill and deep fried in the competition as part of the two day activities in the annual Pantatan Festival in Barangay Los Amigos, Tugbok yesterday. “Sugbahanan sa Dalan” will culminate festival today. BING GONZALES

Data from Regional Board of Investments-Autonomous Region in Muslim Mindanao showed that the firm is setting up 5,000 hectare-oil palm plantations in Maguindanao, which intended to employ 1,000 growers. The project valued at P1.3 billion.

“Within five-year horizon, they will move from not just growing palm but also into processing,” Ahmad said, as the company provides the necessary finance and technology.

Gintong Agri Corp., he said, is one of the companies that result in having a successful venture in the island since it started its operations this year. Apart from the agriculture-based firm, the ambassador was also able to visit the operations of Aggreko in Davao del Sur.

The generator used by Davao del Sur Electric Cooperative was made by Aggreko, a British company into power generation. The company was also able to supply generators in other parts of Mindanao.

The British Embassy Manila led by Ahmad was also able to discuss with the business sector and National Economic and Development Authority on the business opportunities especially on agriculture, business process management and manufacturing in Mindanao.

“There are (really) big opportunities to venture here in Mindanao,” Ahmad said.

Noting on the island’s vast potential for investments, he projected that there would be an increase of Bristish companies in the island once the national government is able to approve Bangsamoro Basic Law.

Posted in Business