News From : DagangHalal.com (13 Aug 2009)
CAGAYAN DE ORO CITY-The Department of Agriculture (DA) is now actively inviting investors from the Middle East, Europe, Asia-Pacific and the United States to invest in the halal sector in Mindanao even as it continues to strengthen the island’s halal investment opportunities with the proposed establishment of the Halal Economic Zone.
Halal is the term used for food that is permissible according to Islamic law.
Aside from the Halal Economic Zone, which is planned to be set up in Davao City to the tune of P2.2 billion, the DA is also inviting investors to invest in the proposed P840-million halal model poultry farm to be set up in this capital city of Northern Mindanao.
According to Agriculture Undersecretary Jesus Emmanuel Paras, the proposed Halal Economic Zone will serve as the centerpiece of the halal investment portfolio the government has drawn up.
Once established, the Halal Economic Zone will boost the Philippines’ export earnings by at least $200 million a year aside from generating 24,000 new jobs, Paras said in a statement.
These two halal investment opportunities, according to Paras, are the Philippines’ way of getting even just one percent of the very lucrative world halal food-export industry which is currently valued at $500 billion.
He said the cities of Davao and Cagayan de Oro were chosen as the site for these $3.04-billion projects because these areas are free from the avian-influenza virus and the foot-and-mouth disease plaguing pigs. They also have a very reliable supply of feed ingredients like corn, copra meal and fishmeal.
Paras disclosed that DA officials have already talked to representatives of Kuwait and Brunei for possible investments in the halal sector here.
“Our exporters will be pleased to hear that initial talks have already been held with Kuwait and Brunei on possible investment opportunities in the halal sector,” he said.
Written by Bong D. Fabe / Correspondent
Thursday, 13 August 2009 02:36
Source: Business Mirror Online Space