Malaysia to invest $575m in Mindanao
Malaysian investors have committed to 23 billion pesos, or $575 million, of investments in industry and agriculture on the Philippines’ southern island of Mindanao, the Mindanao Development Authority said on January 24.
The Tan Chong Group, Malaysia’s biggest car distributor, already studied the location of an industrial park north of Davao City, the island’s largest town. The group has indicated it may build a car-manufacturing and distributorship business in Mindanao.
Fifteen Malaysian firms, among them the country’s biggest palm oil producers, organised by the Putrajaya Chamber of Commerce and Industry, are interested in palm oil processing and consumer products. The firms were looking at 68,000 hectares to plant oil palms.
Malaysia’s biggest bank, Maybank, has also said it wants to expand its network in Mindanao, where it currently operates three branches.
Muslim-dominated Mindanao has recently signed a peace treaty with the Philippine government after decades of unrest and is now considered trouble-free and a new draw for investors, especially in agriculture and infrastructure, see our earlier story.
[caption id="attachment_6647" align="alignleft" width="259"] Seaport in northern Mindanao[/caption] Malaysian investors have committed to 23 billion pesos, or $575 million, of investments in industry and agriculture on the Philippines' southern island of Mindanao, the Mindanao Development Authority said on January 24. The Tan Chong Group, Malaysia’s biggest car distributor, already studied the location of an industrial park north of Davao City, the island's largest town. The group has indicated it may build a car-manufacturing and distributorship business in Mindanao. Fifteen Malaysian firms, among them the country's biggest palm oil producers, organised by the Putrajaya Chamber of Commerce and Industry, are interested...
Malaysian investors have committed to 23 billion pesos, or $575 million, of investments in industry and agriculture on the Philippines’ southern island of Mindanao, the Mindanao Development Authority said on January 24.
The Tan Chong Group, Malaysia’s biggest car distributor, already studied the location of an industrial park north of Davao City, the island’s largest town. The group has indicated it may build a car-manufacturing and distributorship business in Mindanao.
Fifteen Malaysian firms, among them the country’s biggest palm oil producers, organised by the Putrajaya Chamber of Commerce and Industry, are interested in palm oil processing and consumer products. The firms were looking at 68,000 hectares to plant oil palms.
Malaysia’s biggest bank, Maybank, has also said it wants to expand its network in Mindanao, where it currently operates three branches.
Muslim-dominated Mindanao has recently signed a peace treaty with the Philippine government after decades of unrest and is now considered trouble-free and a new draw for investors, especially in agriculture and infrastructure, see our earlier story.
