Tuesday, November 25, 2008

City Approves P25T Financial Assistance For today’s Mindanao Investment Conference

Davao City Investment Promotion Center chief Bobby Teo (left photo) welcomes participants to the MinICon.

The City government of Davao has approved a P25 thousand financial assistance for the two-day Mindanao Investment Conference which will open at the Marco Polo Hotel today.

“We are expecting up to 300 participants to join the conference,” Mindanao Business Council (MinBC) executive director Ednar Carlos Dayanghirang said. The organizers of the event said the Conference is doubly significant because it is not only the business sector that have signified their intention to join the MinICon but even peoples organization and non government organizations from various parts of Mindanao have confirmed their participation.

Dayanghirang said they are thankful for Davao City Mayor Rodrigo Duterte’s support for the Conference both in terms of promotion and financial assistance. He also confirmed the P25 thousand financial support from the city government.

The Conference will focus on seven agricultural products including seaweeds, banana, coffee, rubber production, honeybee, Pangasius and moringa or malunggay.

MinBC chairperson Vicente Lao, who presented the agribusiness opportunities (that will be tackled during the Conference) to the members of the City Council last Tuesday, said they are very excited about the prospects of the propagation of Cream Dory or Pangasius since this will clearly augment the region’s aquaculture production.

Pangasius, Lao said, is like a cousin to the catfish. However, Pangasius fish can weigh as much as 40 kilograms and can grow as long as four feet.

Lao said Pangasius growing is fairly new to the Philippine but it is a growing industry in Vietnam and neighboring Asian countries. Pangasius fillet is presently being exported by Thailand and Vietnam for around $3 per kilo.

This was confirmed by Vitarich marketing associate in Mindanao Elvin T. Millan who said there is a big demand for the Pangasius fish in the world market.

Vitarich is one of the companies that is already into the Pangasius business and they are exploring several business options including contract to buy, contract growing, contract processing, commercial growing and trading partner. Vitarich has prospective growers not only in Davao but also in General Santos City and the Cotabato Province. The company, he added, is now ready to disperse the Pangasius fingerlings to these growers.

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