News From : DagangHalal.com (25 Nov 2009)
BUSINESSMEN from Bahrain are arriving in the Philippines on Friday to explore business opportunities in the country’s mariculture sector, an official from the Department of Agriculture (DA) said.
Marriz Agbon, president of the Philippine Agricultural Development and Commercial Corp., said representatives from six Bahrain-based companies will be meeting with local agribusiness firms.
“[The Bahraini businessmen] are keen on forming joint ventures with local mariculture producers,” Agbon told reporters yesterday.
The mariculture sector is just one of the areas in the Philippine farm sector that Bahrain is keen on investing in.
In March, the DA said Bahrain is looking at investing $300 million in crop technology, vegetable and fruit preservation, biotechnology, postharvest technology, organic agriculture, irrigation and the halal industry.
Another Middle Eastern country, Saudi Arabia, has committed to invest $238.6 million in agricultural trade with the Philippines.
Saudi Arabia is also reportedly eyeing cash-crop plantations like banana, mango and pineapple, as well as aquaculture and halal-food processing.
The Middle Eastern country’s investments in farm projects in foreign countries like the Philippines is part of its efforts to produce more food to meet increasing demand in their country.