Philippines’ south ponders halal water
The Philippines’ southern island of Mindanao is looking to attract foreign investors into the early stages of its halal industry, naming the potential of a large fresh water lake located in the island’s Muslim region.
“We have heard about a proposal to tap Lake Lanao as fresh water source for the bulk water exportation industry, given that mineral bottled water is a $30 billion global industry today,” Director of Investment Promotion Romeo Montenegro of the Mindanao Development Authority (MinDA) told Inside Investor.
“We’re looking at the Middle East as this is a big market for Mindanao halal products,” he continued, adding that further studies would need to be conducted because the lake serves as a source for hydropower facilities and agriculture downstream.
Lake Lanao is located within the Autonomous Region of Muslim Mindanao, an area that was frequently prone to violent conflict up until the signing of the Framework Agreement for Bangsamoro by President Benigno Aquino III and the Moro Islamic Liberation Front (MILF) in October 2012.
With rebels from the MILF pacified, MinDA, the authority tasked with the economic development of the Philippines’ second largest island, has eyed halal as a trigger industry to empower the impoverished region.
“As far as Mindanao is concerned, MinDA considers the halal industry a priority activity because we are located in the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) sub-region, a sub-national cooperation within ASEAN,” Montenegro said.
Regarding the foreign investments made in the scared region, MinDA ensures that “there are already institutional mechanisms in place,” pushing for premium investments in the ARMM region.
“In terms of prime investment, MinDA is trying to drive projects that promote connectivity and work towards creating economic transition that creates a visible return on investment and a positive impact on the lives of local people. Creating jobs has to be a priority for any foreign investment projects,” Montenegro affirmed.
The Caraga Region, one of the country’s fastest growing regions with a growth rate of 9.6 per cent in 2011, has been identified as a perfect case study for ARMM. As the richest mineral region in Mindanao, Caraga experienced accelerated growth despite high poverty levels.
ARMM’s is part of Mindanao’s vast agricultural basin, where eight out of 10 agricultural exports in the Philippines come from.
Ten per cent of Mindanao’s 22 million population is Muslim.
The Philippines’ southern island of Mindanao is looking to attract foreign investors into the early stages of its halal industry, naming the potential of a large fresh water lake located in the island’s Muslim region. “We have heard about a proposal to tap Lake Lanao as fresh water source for the bulk water exportation industry, given that mineral bottled water is a $30 billion global industry today,” Director of Investment Promotion Romeo Montenegro of the Mindanao Development Authority (MinDA) told Inside Investor. “We’re looking at the Middle East as this is a big market for Mindanao halal products,” he continued,...
The Philippines’ southern island of Mindanao is looking to attract foreign investors into the early stages of its halal industry, naming the potential of a large fresh water lake located in the island’s Muslim region.
“We have heard about a proposal to tap Lake Lanao as fresh water source for the bulk water exportation industry, given that mineral bottled water is a $30 billion global industry today,” Director of Investment Promotion Romeo Montenegro of the Mindanao Development Authority (MinDA) told Inside Investor.
“We’re looking at the Middle East as this is a big market for Mindanao halal products,” he continued, adding that further studies would need to be conducted because the lake serves as a source for hydropower facilities and agriculture downstream.
Lake Lanao is located within the Autonomous Region of Muslim Mindanao, an area that was frequently prone to violent conflict up until the signing of the Framework Agreement for Bangsamoro by President Benigno Aquino III and the Moro Islamic Liberation Front (MILF) in October 2012.
With rebels from the MILF pacified, MinDA, the authority tasked with the economic development of the Philippines’ second largest island, has eyed halal as a trigger industry to empower the impoverished region.
“As far as Mindanao is concerned, MinDA considers the halal industry a priority activity because we are located in the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) sub-region, a sub-national cooperation within ASEAN,” Montenegro said.
Regarding the foreign investments made in the scared region, MinDA ensures that “there are already institutional mechanisms in place,” pushing for premium investments in the ARMM region.
“In terms of prime investment, MinDA is trying to drive projects that promote connectivity and work towards creating economic transition that creates a visible return on investment and a positive impact on the lives of local people. Creating jobs has to be a priority for any foreign investment projects,” Montenegro affirmed.
The Caraga Region, one of the country’s fastest growing regions with a growth rate of 9.6 per cent in 2011, has been identified as a perfect case study for ARMM. As the richest mineral region in Mindanao, Caraga experienced accelerated growth despite high poverty levels.
ARMM’s is part of Mindanao’s vast agricultural basin, where eight out of 10 agricultural exports in the Philippines come from.
Ten per cent of Mindanao’s 22 million population is Muslim.
