What's On & Expat February 24 - March 1, 2008

Investors robust on Aurora; 10 MOUs signed
by Vanessa R. Balagapo

Senator Edgardo Angara recently noted the potential of the province of Aurora as the country's primary tourist destination and investment haven.

According to Angara, the influx of domestic delegates during the summit is expected to raise local and foreign investments in the province.

A total of 10 Memoranda of Understanding (MOUs) for investments have been signed between private companies and the province of Aurora during the summit held recently in Clark, Pampanga.

Among the companies that signed and participated in the investment summit were United Coconut Planters Bank-CIIF Foundation, Asiapro Multipurpose Cooperative, Fundacion Santiago, Philippine Food Processors and Exporters Organization, Inc. (PHILFOODEX), Industry Development Corporation (IDC), Source Asia Business Inc., East-West Seed Co., Genius Billion Development Limited, TGA Farms, and NDC Maritime Leasing Corporation (NMLC). The companies expressed interest and pledged support to boost economic progress in the province.

The UCPB-CIIF Foundation has pledged 100 scholarship grants for the dependents of coconut planters in Aurora.

Asiapro Multipurpose Cooperative will recruit graduates from the different schools of Aurora to be deployed in several companies nationwide.

PHILFOODEX, a nationwide organization dubbed as the pillar of the food industry, will improve and establish value-adding linkages of Aurora's agro-fishing products for local and export markets.

IDC, a company engaged in the processing and exporting of wood products and furniture, will also establish value-adding linkages and investments of Aurora's wood products for the local and export markets.

Source Asia Business, a human resource company engaged in the transfer of technology from other countries to the Philippines, also pledged to explore the viability of introducing gyroplanes in Aurora.

Fundacion Santiago, a company engaged in market linkages, will market the products of Aurora to various industries and corporations all over the country.

Genius Billion Development Ltd., will be investing in wind power generation, physical infrastructures, and skills development in Aurora.

East-West Seed Co., will establish market linkages of Aurora's high-value added crops for local and export markets.

TGA Farms will establish technical assistance and market linkages for Tilapia fingerlings in the province of Aurora.

While the NMLC will explore the setting up of Ro-Ro (Roll-on roll-off small boat) facilities in Aurora to improve its transportation system.

According to Angara, "these investments will spur economic development in Aurora. We plan to develop and sustain economic growth in Aurora and its adjoining provinces through the economic zone; thus making the Northern Luzon seaboard an investment haven."