Thursday, October 25, 2012

Investors upbeat after trade mission to Singapore

DAVAO City Investment Promotion Center (DCPIC) chief Jason Magnaye said the four-day Davao Tourism, Trade, and Investment Mission conducted recently in Singapore was a success as delegates from the metropolis were able to meet their respective counterparts for possible business partnerships. Magnaye said the delegation from Davao's agri-business, tourism, real estate and business process outsourcing (BPO) were elated with the positive outcome of the Singaporean mission held last October 11 to 14. For the tourism sector, about 10 government and private travel agents promoted the city's tourism by pushing Davao City as a travel destination for Sinaporean tourists in a product presentation at the Fullerton Hotel on October 12. After the presentation, a one-on-one business matching also took place. "There were reports that there are commitments for tour operations to push Davao City as a travel destination," Magnaye said. The DCICP head said the only next step tourism stakeholders must do is to strengthen the promotions of the city as a tourism destination. "We have to be more aggressive in promotion. Equally aggressive with other countries," he said. Even with the new direct Singapore to Davao connectivity, Magnaye said the City Government is still banking on Cebu Pacific to open up connectivity from Davao to Hong Kong. However, there are still no commitments yet between the airline and Davao LGU. Magnaye said delegates from real estate sector, represented by Damosa Land Inc. and other two real estate brokers, were able to meet their prospect market in Sinagpore, especially the Filipino immigrants. Delegates from the agribusiness, meanwhile, returned home with high hopes for possible exportation of agricultural products from the city to Singapore. Magnaye said a farmer from Davao who operates a chicken and poultry farm is open to any possibilities of exporting to Singapore goat and chicken meats by large volumes. The Philippine government, however, is still working for its accreditation in Singapore to be able to ship out meat products there. The Philippine Trade and Investment Center (TPIC), being the Philippines' trade arm in Singapore, is the one that processes the requirements, making sure that products from the country are able to meet the export quality standards. There are also willing investors on cacao from the Davao Region. Magnaye said Public-Private Partnership (PPP) was also highlighted in the mission. He said there are investors who are eyeing on waste-to-energy, waste-water treatment and public transport system. These possible investors under the PPP will come to visit the city to join the Davao Investment Conference (Davao Icon) on November 15-17 and to assess the viability of the city to play host for those facilities, according to Magnaye. "They're impressed that we have PPP ordinance, which gives them assurance that the city is serious about the PPP," Magnaye said.