Quote for the Week..

"Why are the country’s political leaders quick to act on amending the Constitution to change nationalistic provisions for the benefit of foreigners or to extend their terms of office but are allergic to amending the Constitution to address the people’s aspirations for self-determination?" - Marvic Leonen,Dean of the UP College of Law, in a keynote address delivered at the 1st International Solidarity Conference on Mindanao; March 16-18, 2009 in Davao City, Philippines.


Saturday, April 11, 2009

RP courting P3B halal investments for Mindanao

The country has arranged separate discussions with Kuwait and Brunei on about P3 billion worth of investment opportunities in the domestic halal sector, particularly in Mindanao, the Agriculture Department said in a statement.

The department said Mindanao has a comparative edge over other countries in the region because it was free of the foot-and-mouth disease (FMD) and the avian influenza (AI) or bird flu virus.

Agriculture Undersecretary Jesus Emmanuel Paras said the DA was offering foreign investors at least two big-ticket halal investment project proposals in Mindanao: The Halal Economic Zone in Davao City and a Halal model poultry farm in Cagayan de Oro City.
“The proposed Halal Economic Zone, which will cost at least P2.2 billion, is the centerpiece of the halal investment portfolio being offered to overseas investors by the Arroyo administration,” Paras said in a recent forum.

To be located in Davao City, the zone is expected to generate 24,000 new jobs for Muslim Filipinos, and boost the Philippines’ export earnings by at least $200 million per year, he said.

The other investment proposal packaged by the department, said Paras, is a P840-million project involving the establishment of a halal model poultry farm complete with research laboratories, abattoirs and other modern facilities.(By Riza T. Olchondra; INQ.net)

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