Mindanao biz group to forge stronger ties with Singapore
COCOA. The upcoming trade mission to Singapore will feature agricultural products from Mindanao, including raw and processed cocoa. Mindanao contributes 99% of the country’s total cocoa production. Photo courtesy of the Southern Philippines Fresh Fruits Corporation.
A BUSINESS delegation from Mindanao will travel to Singapore this week on a trade and investment mission with the aim of strengthening economic ties with the country.
The group, representing 23 companies from the island region, will carry out site inspections at Singapore’s markets, seaports and processing facilities to identify viable investment opportunities and benchmark various business practices.
A Mindanao Development Authority (MinDA)-led business forum is also scheduled for August 10, where the Mindanao delegation and their Singaporean counterparts can explore areas of partnership through business-to-business networking sessions.
“The objective of this trade mission is to kick-start possible investments for the Mindanao business community and enable them to learn industry standards in Singapore for a more competitive position in the global market,” said the Charge d’Affaires ad interim of the Philippine Embassy in Singapore, Dr. Emmanuel. said R. Fernandez.
As Singapore is one of the major hubs of global markets, MinDA Secretary-President Maria Belen S. Acosta said the series of promotional activities aim to raise awareness and interest in Mindanao’s potential in as the investment destination of choice.
“We want to showcase Mindanao’s competitive position where investments in the region yield high returns thanks to its vast fertile lands, ideal climate for agricultural production and skilled labor force,” she added.
Deputy Secretary to the Deputy Executive Director of MinDA, Romeo Montenegro, also said the business forum aims to send a message that Mindanao is “back in business” with its strong economic performance despite the setbacks caused by the global pandemic.
“Our Agriculture, Forestry and Fisheries sectors, capable of showing positive growth even during the peak times of the Covid-19 crisis, make the case for Mindanao’s ability as a hotspot. investment, especially for agro-industrial industries,” he said.
Agricultural development and food security are among the priority sectors of the Marcos administration – with an emphasis on increasing productivity and ensuring self-sufficiency.
The four-day trade and business event is co-hosted by MinDA in collaboration with the Philippine Embassy in Singapore, the Ministry of Commerce and Industry, the Philippine Chamber of Commerce and Industry and the Bangsamoro Autonomous Region in Muslim Mindanao. MINDA