Mindanao seeks energy investments

MANILA, Philippines - Mindanao is seeking investments of P1 billion in the energy sector as it gears up for its role as the bread basket of the Philippines.

In a press conference yesterday for the forthcoming 19th Mindanao Business Conference, Jaime Ralph U. Paguio, president of the Cagayan de Oro Chamber of Commerce and Industry, said they want to make sure that the energy supply shortfall which they experienced in the first half this year will not be repeated.

The 19th Mindanao Business Conference, scheduled in Sept. 16 –18 in Cagayan de Oro, is co-sponsored by the Philippine Chamber of Commerce and Industry (PCCI), the Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. and the USAID-Growth with Equity program.

Paguio said Mindanao is seeking more investments in the energy sector as it prepares to be the bread basket of the Philippines.

He pointed out that adequate and efficient  energy supply is necessary for the region to be more productive in the agriculture and mining sectors.

In the area of agriculture, Paguio said, Mindanao is hoping to attract more investments in corporate farming and mariculture. He cited the export potential of live fish such as sea bass and grouper (lapu-lapu) to China and other neighboring countries.

Paguio also cited the need for Mindanao to diversify its crops in the face of climate change.