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GENERAL SANTOS CITY -- Several foreign investors have signified interest to venture into some major projects, among them dairy and mushroom processing, in South Cotabato province.
Emmanuel Jumilla, assistant provincial planning and development coordinator, said Monday they have received initial investment inquiries from confirmed participants in the upcoming South Cotabato Investment and Business Conference 2019, slated on July 17 at the Paraiso Verde Hotel in Koronadal City.
Jumilla said a group of investors from the European Union have expressed interest to explore the possibility of putting up processing facilities for mushroom and goat’s milk.
Jumilla said they will link up the group with mushroom producers based in Tupi town and goat raisers in parts of the province.
A group of Italian investors have also shown interest in farm machinery production and may partner with local manufacturer Green Valley Machineries, he said.
“We’re hoping to draw more major investments and business ventures during the conference,” Jumilla, who also heads the South Cotabato Economic and Investment Promotions Center, said in a briefing.
He said five foreign chambers of commerce in the country -- European Union, United States, Australia, New Zealand, and Italy -- have been invited to join the business conference. The Indonesian consulate based in Davao City and the Philippine Chamber of Commerce and Industry have also committed to send delegates.
Jumilla said one of the highlights of the one-day conference is the presentation on investment opportunities in South Cotabato by Governor Reynaldo Tamayo Jr. It will also tackle other business and investment opportunities in other parts of Region 12 or Soccsksargen.
The event will be joined by officials and representatives from the Mindanao Development Authority, Department of Trade and Industry, Richmond Land Innovations Inc. of RD City Special Economic Zone and pineapple giant Dole Philippines Inc.
The investment promotion cum business-to-business matching conference is one of the highlights of South Cotabato’s 20th Tnalak Festival 53rd foundation anniversary celebration. (PNA/Fruto C. Sumagaysay)
Read more: https://www.pna.gov.ph/articles/1074939
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All-New Toyota GR Supra arrives in the Philippines in style
Top automotive manufacturer Toyota Motor Philippines (TMP) officially launched its flagship sports car, the All-New Toyota GR Supra. Following a special teaser at the Vios Racing Festival, the new model was unveiled at a launch event in Makati City attended by the company's premium customers and prospective clients, Toyota dealer management and guests from the media.
The All-New Toyota GR Supra, otherwise known as the A90 or Mk. V, is the first-ever Toyota Supra to be retailed in the Philippines. TMP is making history by having the much-anticipated model locally available through its certified GR Performance dealerships nationwide.
“Bringing the legendary Supra here is something we have always wanted to do, and we are positive that there are countless Toyota fans out there who share the same enthusiasm,” said, Cristina Arevalo, first vice president for TMP. “The Supra, above and beyond, embodies Toyota’s pledge of making ever-better cars,” she added.
Read more at https://www.philstar.com/…/all-new-toyota-gr-supra-arrives-…
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MANILA, Philippines–The Philippines is among the top five countries that are expected to comprise a quarter of the world’s wheat imports over the next 10 years as bread and feed consumption are both going up, the Organization for Economic Cooperation and Development (OECD) said.
In its latest agricultural report, OECD forecasted that the Philippines, along with Egypt, Indonesia, Algeria, and Brazil, would account for a combined share of about 25 to 27 percent of the global supply for wheat beginning this year until 2028.
As of last year, the country is the sixth importer of wheat worldwide after Bangladesh.
This reinforces the United States Department of Agriculture’s (USDA) projection for the Philippines earlier this year, wherein it reported that the country’s wheat exports may reach its highest record yet of 7 million metric tons (MT) amid growing consumption.
Of that figure, about 3 million MT would be used for flour while the remaining 4 million MT is expected to fill the country’s growing demand for feed – this as the Department of Agriculture aggressively pushes for the growth of the livestock and poultry sectors.
OECD said global wheat production may increase by 16 percent to 838 million MT by 2028 – a more moderate pace compared to the last decade.
However, among developed countries, the organization said “increases in production is expected to be the highest in the European Union in view of its high yields, competitive prices, and grain quality.”
Wheat cannot be grown in the Philippines since the crop only thrives in cold temperatures. Hence, the need to outsource. The country imports about 95 percent of its wheat requirements from the United States, which remains as its biggest supplier.
The USDA attributed in a separate report that the increase in wheat imports for the manufacturing of feed is due to local traders’ search for cheaper alternatives to rice and corn as prices of these commodities remain high.
Meanwhile, Agriculture Secretary Emmanuel Piñol said this is due to the continuous expansion of the poultry and livestocks sectors.
Philippine Association of Flour Millers executive director Rick Pinca said the local flour industry has been rosy over the past years as more players are becoming more eager to capture a share of the growing market.
Flour consumption in the country has grown by 7.8 percent over the last two years, while prices of bread have stabilized amid tighter competition.
Overall, the country’s growing economy continues to push Filipinos’ purchasing power up, which would likely encourage them to increase food consumption, among others.
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