Call to invest in Mindanao
By Rosli Abidin Yahya

Jiamil I.M. Dianalan stressing a point

Entrepreneurs from Brunei Darussalam are advised to invest in Mindanao because the region has many natural resources such as oil, gas and gold as well as agricultural and sea products. Jiamil I.M. Dianalan, the Philippines Minister of Muslim Affairs said Mindanao is also regaining momentum and growing much faster compared to the growth rate of the national economy.

In 2000, the island posted a 4.9 per cent economic growth compared with the national growth of 4 per cent.

"Mindanao's current share based on divisional gross domestic product is roughly 34 per cent in the agriculture and fishery sector, 20 per cent in trade and 13 per cent in manufacturing.

"Mindanao's attractions for investors include travel tax exemptions until June 2004; the establishment of new air and sea linkages; and the establishment of banks based in various points in Mindanao," he said.

Jiamil was delivering an address at the First BIMP-EAGA Brunei Investment Mission Seminar held at the Philippines Law School in Pasay City, Manila last Tuesday.

The seminar was attended by members of Brunei Malay Entrepreneurs Federation (PPPMB) led by its president Dr Hj Abdul Latiff bin Chuchu and Mindanao business entrepreneurs.

Jiamil added that there is nothing to fear in Mindanao and by investing in the region and that they would also be "helping fellow Muslims".

"We know the real story, we know what is happening in Mindanao because we are in touch with reality," he said.

He said Mindanao also produce agricultural products that account for at least half of the Philippines' major agricultural exports namely coconut, banana, pineapple and seaweed.

"We hope with this seminar, there would be renewed vigour and optimism in the development initiatives made by entrepreneurs in Brunei.

"In the last few years, businessmen gained some amount of confidence through a more stable political regime that translated into improved peace and order on the island. This year will hopefully be a year of getting that confidence off the ground," he said.

BIMP-EAGA is an economic sub-group of the larger Association of Southeast Asian Nations.

Courtesy of Borneo Bulletin