Gulf | Bahrain
Bahrain firms seek business ties with Manila
Bahrain companies are seeking business ties with Philippines firms in local mariculture parks, self-contained fishery production zones, says reports from Manila
- By Habib Toumi, Bureau Chief
- Published: 11:47 November 25, 2009
- Image Credit: Gulf News
Manama: Representatives of six Bahrain companies will be visiting the Philippines over the weekend, seeking business ventures in local mariculture parks, self-contained fishery production zones, Manila-based media said.
The companies will hold meetings with the Philippines’ Department of Agriculture (DA) officials, said Marriz Agbon, president of the Philippine Agricultural Development and Commercial Corp. (PADCC).
The Philippines has completed a $300 million investment package with the Bahraini government to put up agro-fishery businesses in the country, GMANews.TV reported late on Tuesday.
Under the agreement, a joint committee will meet twice a year to monitor the development of specific projects in the investment package.
Bahrain also committed to putting money into vegetable and fruit preservation, biotechnology, post-harvest technology, livestock and fisheries, the media outlet said. It will also invest in organic agriculture, aquaculture, coastal and deep-sea fishing management, irrigation and water resources, halal industry.
Earlier this year, a group of Saudi investors also committed $238.6 million in fresh investments expected to be allotted for banana, mango and pineapple plantations.
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