Malaysian companies eye Davao City investments
DAVAO CITY—A number of Malaysian companies are exploring the possibility of investing in Davao City.
Lemuel Ortonio, chief of the Davao City Investment Promotion Center (DCIPC), said the Malaysians flew to Davao last week to look at business opportunities in the city.
Prior to the visit from October 13 to October 14, the Malaysians attended the Information Technology event--Livelihood Exchange (LIVEX 2016)--in Zamboanga City from October 10 to October 11.
Ortonio said the Malaysians are interested in the areas of logistics, information technology and entrepreneurship and aim to enhance the capabilities of small and medium enterprises in Davao City.
The Malaysians also met with officials of the Davao City Chamber of Commerce and Industry, Inc.
The Malaysian investors included MAD Incubator, which claims to be Southeast Asia’s ‘leading and largest private business incubation company.’ Avere Ventures, iKargo, and Infotech Computer Center also joined the delegation.
“The Davao market exploration by Malaysian investors is a welcome opportunity for us,” Ortonio said. “For one, their proposed investments are matched with the need for strengthening businesses here in the city, especially SME logistics.”
The visit also solidifies Davao City’s increasing potential as the gateway for trade and commerce between Malaysia and other nations in the BIMP-Eaga Region, he said.
BIMB-Eaga stands for Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area.