News From : DagangHalal.com (25 Nov 2009)
At least six Bahrain companies will be visiting the Philippines over the weekend, seeking business ventures in local mariculture parks, which are self-contained fishery production zones.
These companies, which belong to the Bahrain Chamber of Commerce, will hold meetings with the Philippines’ Department of Agriculture (DA) officials, said Marriz Agbon, president of the Philippine Agricultural Development and Commercial Corp. (PADCC).
The Philippines has completed a $300 million investment package with the Bahraini government to put up agro-fishery businesses in the country.
Under the agreement, a joint committee will meet twice a year to monitor the development of specific projects in the investment package.
Besides vowing to invest in crop technology, Bahrain also committed to putting money into vegetable and fruit preservation, biotechnology, post-harvest technology, livestock and fisheries.
The Persian Gulf country will also infuse funds in organic agriculture, aquaculture, coastal and deep-sea fishing management, irrigation and water resources, halal industry.
Earlier this year, a group of Saudi investors also committed $238.6 million in fresh investments, which are expected to be allotted for banana, mango and pineapple plantations.