Mindanao eyed as host to Malaysian investments

MINDANAO can become the investment hub for Malaysian investors, an official of Consulate General of Malaysia said.

Malaysian Consul Mohd Jafri Bin Mohd Sharif said yesterday in Wednesdays @ Habi at Kape in Abreeza Mall that Mindanao is fit to be positioned as an investment hub for the investors from their country as it has similarities with Malaysia.

“Somehow, we have the same requirements,” Sharif said, pointing out that among the similarities include placing importance on Halal market and developing the agriculture industry.

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MALAYSIAN Consul Mohd Jafri Bin Mohd Sharif (with mic) expresses his elation over his new tour of duty in the city. With him during the Wednesdays @ Habi at Kape-Abreeza is the mall manager, Luigi C. Escano. CQF

Mindanao has been the location of several Malaysian investors, among Agumil Philippines Inc. which operates palm oil plantations in Agusan del Sur.

Another company Alif Agro-Industrial Inc. is also looking at venturing in Agusan del Sur, according to a report. The company is planning to put up palm tree plantation and oil refinery that valued $1 billion.

The company targeted to plant palm trees in 128,000 hectares of lands.

The trade ties between Philippines and Malaysia have been also increasing. As of 2015, Malaysia External Trade Development Corp. (Matrade) reported that Malaysia’s imports from the country improved to $1.7 billion from $1.6 billion in 2014.

Some of the products that Malaysia is importing from the country include processed food, chemical and chemical products, manufactures of metal and electrical and electronic products and petroleum products.

Nyaee Anak Ayup, trade commissioner of Matrade-Manila, said earlier that they are looking into having a better collaboration with the Philippines. “We would like to have more trade between Malaysia and Philippines,” she said.

Ayup said they can also export products like Halal food and beverages, cosmetics and toiletries. As the Philippines’ construction industry is booming, she said Malaysia can supply building and construction materials. (By Kristianne M. Fusilero)

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