DAVAO CITY- The BIMP-EAGA IMT-GT (Brunei-Indonesia-Malaysia
Philippines East Asean Growth Area) (Indonesia-Malaysia-Thailand Growth
Triangle) trade fair and business leaders conference was a booming success said
an official of the Mindanao Development Authority.
Romeo Montenegro, director for investment promotions MinDA said
that about 25,000 people visited the trade fair which was held at SMX Davao in
SM Lanang from October 22 to October 26.
There were about 1,500 registered participants overshooting
their targets which were placed at 600 to 800 expected participants. Montenegro
said that about 1,000 participants were from different parts of the country
while 500 were foreign participants coming from the BIMP-EAGA, IMT countries
plus delegates from the United States, Great Britain, Mexico, Japan, South
Korea, Taiwan and Canada.
The trade fair generated $64-million (P2.4 billion) in book
sales. Though not a selling area, the respective countries brought with them
samples of their showcased products during the event.
The business-to-business matching sessions also produced 11
proposals for investments. These proposed projects amounted to projected
investment costs of $132-million or P6-billion. These projects if realized can
generate to about 160,000 jobs.
Montenegro said these projects are agri-business in nature.
These include; a corn processing plant in Cotabato, a coconut processing
facility in Davao del Sur, oil palm investments in General Santos, Davao
and North Cotabato, a coconut processing plant in the Autonomous Region for
Moslem Mindanao.
The MinDA official said that there were also businesses or
agreements forged which were not included in the business-to-business matching.
Montenegro said he is happy most of the investment leads were in Mindanao but
they were hoping other countries also had successful business matchings for
investments within their respective areas.
Montenegro said the success of the event highlighted the
capability of Mindanao particularly Davao to host such big events in the future. (PIA/RG
Alama)
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