Saudi traders lured to invest in Mindanao
Saudi businessmen and Filipino expatriates in the Middle East have been lured into investing in Mindanao as a 14-member trade and investment mission promoted the island’s investment and tourism potentials, Arab News online version said Saturday.
Arab media quoted Trade and Assistant Secretary Merly Cruz, head of the
government and private sector mission, as saying they have generated
“excellent response” from Saudi businessmen in their visits to Riyadh, Dammam,
and Jeddah chambers of commerce.
Mustafa Sabri, Jeddah Chamber of Commerce and Industry secretary general said
the new economic environment unfolding in this part of the world provided many
opportunities to international companies.
“Your first visit to the Kingdom should provide a new thrust to growing
bilateral commercial relations,” he told the delegation, as quoted by Arab News.
The DTI Southeastern Mindanao regional office has scheduled a press briefing
here on Wednesday, to discuss the mission’s outcome.
A group of Saudi businessmen visited Mindanao in 2005 to look at investment
Cruz was quoted as saying the objective of the mission was to promote Mindanao
products and generate awareness of the southern Philippine region as a
potential supplier of goods and services.
It also promoted Mindanao as an investment destination for Saudi businessmen
and providing investment opportunity such as virtual poultry farming as a
viable investment concept for overseas Filipino workers (OFWs).
Already, Mindanao’s potentials for trade, tourism and investment were cited at
the Mindanao Economic Forum (MEF) in Riyadh.
The forum, organized by MEF and sponsored by Arab News, gathered both Saudi
and Mindanao businessmen.