MinBC: Now is the time to invest in Mindanao
Mindanao businessmen have urged American investors to take a closer look at Mindanao, which is now considered the food basket of the Philippines.
Vicente Lao, chairman of Mindanao Business Council (MinBC) and guest of honor of the Philippines-United States Business Council meeting with the theme “Mindanao: Uncovering New Opportunities” at Shangrila in Bonifacio Global City, said that Mindanao’s economic potential is in agriculture and agri-business.
“As food basket in the country, Mindanao supplies 30 percent of the national food requirement,” Lao said.
Mindanao investments have grown 7 folds since 2010. At least P73 billion worth of investments in real estate, BPO and ICT have been poured in Mindanao in 2014 alone, Lao said. It has the lowest power rate in the region with 11 verified sites of hydro resources.
“The time to invest in Mindanao is now. Mindanao is open for business. We are ready to host investments and projects,” said Lao