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Middle East expected to invest in Mindanao

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The Mindanao Development Authority (MinDa) seeks to tap investors from the Middle East countries for the development of Mindanao region.

MinDA Chair Secretary Datu Abul Khayr Alonto revealed the plan to meet with some investors from the Middle East.

The discussion will focus on the possible investment to help Mindanao’s growth, he said, stressing he would also encourage them to bring their industry in the region.

“The Middle East [investors] want to relocate their funds and what we want it is not only to make Mindanao as the parking area of that funds but for a destination of investment in partnership with our people,” he added.

Alonto noted the organization will introduce the agricultural sector of Mindanao given its popularity as the fruit basket in the country.

He added investors from Europe have also expressed intention to pour capital in Mindanao.

The group is banking on the Tawi-Tawi Economic Freeport Zone which will host many facilities including a shipyard area, airport and seaport.

The Tawi-Tawi economic zone is included among the major projects under the Mindanao Development Corridors strategy which is designed to improve infrastructure, enhance linkages between growing and lagging regions, and ensure balanced growth.

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