Philippines: Malaysian company interested in joint venture for bananas

A Malaysian company is interested in pursuing a joint venture with banana planters in the Philippines to tap into the export market to China, according to an official of the Malaysian Chamber of Commerce and Industries Philippines Inc (MCCI).

In an interview, MCCI president Edward Ling, said: “There is possibly a company might go into cultivation of banana.” He did not disclose the name of the company. Their plan is to initially get about 200 acres of land, to work with the local people.”

According to the Philippine Statistics Authority, banana production increased 2% year-on-year in the three months to September to 2.43 million tons. The PSA said that the Davao Region remained the country’s top contributor, with a share of 38.2%, followed by Northern Mindanao with 21.3% and SOCCSKSARGEN with 12.5%.

Mr. Ling said that the potential investor became interested in pursuing the project after the Philippine Investment Forum 2018, which was held in September.

Source: bworldonline.com


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