October 30, 2009
US investors eye Philippine aquaculture
A group of US investors is in Davao, Philippines, for trade mission looking at opportunities for investment in aquaculture, among other sectors.
Seventeen investors from the US are in this city for a two-day US-Philippines Agribusiness Trade and Investors Mission held at the Marco Polo Davao Hotel on Wednesday (Oct 28).
United States Department of Agriculture (USDA) deputy administrator Patricia Sheikh said that there are plenty of opportunities that the Philippines could benefit from especially on the field of agribusiness sector.
The USDA, in partnership with the Philippine Department of Agriculture, it brought in interested businessmen to the Philippines and see for themselves potential investment portfolios on agribusiness.
The investors identified specific areas for investment: biofuel crop production, feed-mills, coffee production, mariculture and others.
PADDC president Marriz Agbon reported about 50 Davao-based companies which attended the activity and joined the business matching held in the afternoon, that same day.
Agbon announced that the two-day trade mission that the same group conducted earlier in Manila was a success since there had been US$330 million investment potentials identified in that activity.
He also disclosed some business partnerships between Saudi Arabia and the Philippines are soon to start as a result of the trade mission of some investors from Saudi Arabia who visited the country last July.
