Mexico keen on investing in Mindanao

DAVAO CITY (MindaNews / 12 April) – With a growing interest from potential investors, Mexican Ambassador Julio Camarena Villaseñor said companies from his country have signified interest in Mindanao to explore new opportunities in agriculture, tourism, hotel, and health.

The ambassador said in the “Wednesdays at Habi at Kape” they are particularly interested in Mindanao, this being one of the fastest growing areas in the country.

He added that they expect more Mexican investors to meet with their counterparts in the country to discuss possible opportunities for further investments that will strengthen the bilateral ties between the two countries.

Villaseñor said that he met with officials from the Mindanao Development Authority (MINDA) on Wednesday to identify the areas of opportunities in which the Mexican investors can enter.

“We do have potential investors. We are very excited. We sit down with Mexican investors to see which areas are more attractive,” he said.

He said a Filipino-Mexican Business Council meeting is scheduled next month or in June to discuss business opportunities for investors of both countries where MinDA and representatives from the Davao City Chamber of Commerce and Industries Inc. (DCCCII) are expected to a presentation on the business climate of Mindanao and Davao City.

Villaseñor added that Mexican investors are interested in cement, business process outsourcing (BPO), information technology (IT), telecommunication, and manufacturing.

He said they want to increase their trade and see actual investments to take place between Philippines and Mexico, as these can boost employment generation and the economy.

“Most important thing is the investment mechanism. Investment not only produces a developed economy but most importantly we want more investments than trade. We focus on investment because it produces employment, trade, and infrastructure,” the ambassador said.

He said Mexico has been one of the Philippines’s major foreign investors. Among noted Mexican investors are NuTec, Cemex, and FEMSA Philippines, a firm engaged in bottling and distribution of Coca-Cola.

He said FEMSA announced it will pour in additional $1 billion worth of investments in the country.

“We looked at our portfolio for areas where we can have further investments,” he said. (Antonio L. Colina IV / MindaNews)