The first Southern Mindanao Growth Corridor (SMGC) investment forum officially opened here at the Marco Polo Hotel on Friday, September 19. It was participated by local and foreign chambers, business groups, and financial institutions from Mindanao, the rest of the country, and abroad.

The activity was organized by the American Chamber of Commerce of the Philippines-Davao Chapter (AmCham-Davao), the European Chamber of Commerce of the Philippines (ECCP), and the Japanese Chamber of Commerce of Mindanao (JCCM).

AmCham-Davao President Philip Dizon told the Manila Bulletin that the event is a venue for business groups and players in the SMGC to establish closer economic ties with foreign investors for future partnership ventures in the region.

“Southern Mindanao – from General Santos City to Davao City and Mati City – have a lot of potentials to offer investors, starting from its resources, power, peace and order, and young manpower,” Dizon added.

Dizon stressed that the region currently possesses significant qualities that will appeal to investors, such as the sincerity of the national government to pursue peace by submitting the draft of the Bangsamoro Basic Law (BBL) to congress, and the expected surplus of energy in Mindanao via the various power plants already in construction.

By 2015, the coal-fired power plant of Aboitiz power here is expected to bring an additional 150 MW of power to the Mindanao grid, while a separate 150 MW from another coal-fired power plant will follow within the year.

The Conal Plant which is owned by Alsons in Maasim town, Sarangani province will also contribute 200 MW of coal power in the middle of 2015 or early 2016, while two more coal-fired power plants of Filinvest Group in Misamis Oriental (450 MW) and the San Miguel group (300 MW) in Malita, Davao Occidental will operate next year or in the middle of 2016.

Ebb Hinchliffe, executive director of AmCham Philippines, in his opening statement himself said that investments are now coming to Mindanao, especially within the SMGC areas due to opportunities that the region can offer to investors.

On his part, Ryutaro Aoki, the first secretary of the Japanese Embassy in the country said the Japanese government will continue its support of the Philippine government, especially in programs that are focused on the attainment of peace and security in Mindanao.

“Peace in Mindanao will greatly contribute to Philippine development,” Aoki said, adding that Japan imports various agricultural products from the Philippines, especially from Mindanao.

“Japan imports fresh bananas and pineapples which dominates over 90 percent of Japanese markets,” Aoki said.

The Japanese official also sees investment possibilities in mineral resources in Mindanao as Japanese mining companies are already operating in the region.

Martial Beck, vice president and general manager of the ECCP, said the European Union is now in the process of validating the application of the Philippines to avail of the General System of Preference. This is a tool that will enable the country to export to Europe with no import tariff.

“This will make products from the Philippines more competitive,” Beck emphasized.

Other foreign chambers present during the event were the Australian and New Zealand Chamber of Commerce, Finland Chamber of Commerce, and the Canada Chamber of Commerce.

The local business groups were led by the Davao City Chamber of Commerce and Industry (DCCCI).

Both the foreign and business groups were divided into groups during the break-out sessions and the business matching activities in the afternoon.

Bangsamoro Development Agency Chairperson Saffullah Dipatuan was also among the special guests, along with Mindanao Development Authority (MinDA)  Chair Luwalhati Antonino, National Economic Development Authority (NEDA-11) Regional Director Maria Lourdes Lim, and representatives from concerned line agencies of the government.

The event was supported by various business firms in Mindanao. Manila Bulletin was one of the forum’s media partners.

Source: Manila Bulletin, 20 September 2014