Good things are coming to Mindanao. Once the neglected section of the country in terms of development projects, the land of promise is waking up to a new-found vigor.
President Duterte came home from the Middle East bringing along a USD1-billion sovereign investment fund from Qatar. The investments will be for developmental projects in Mindanao, particularly in areas of agriculture and infrastructure. This after Qatar and the Philippines signed the Investment Protection and Promotion Agreement (IPPA) that will facilitate the USD1-billion investment of the Qatari government in the country. The IPPA will also identify other investment opportunities in the Philippines.
The agreement will extend to Qatar investors internationally recognized investor rights and safeguards. This means Qatar investors will get fair treatment in the country to allow their business to flourish.
The IPPA is on top of the investment prospects signed during the Middle East visit of President Duterte last week. In sum, the Middle East investment prospects amount to USD925.
The investment portfolio made possible by the President’s visit to Saudi Arabia, Bahrain, and Qatar is another fresh shot in the arm for the country, particularly for Mindanao.