Investors can benefit from Palawan’s competitive advantage and government incentives in priority investment areas of the province, an official said on Thursday.
Anna Lissa Barroma, Development Management Officer IV of the provincial government of Palawan speaking before the prospective investors, businessmen and local government officials, said they can benefit from the province’s strategic location being close to Malaysia, Indonesia and other Southeast Asian countries, which have more than 655 million people.
“If you locate and invest in Palawan mas malaki ang chance mo na makuha ang big chunk of such population,” she said.
“Imagine the possibility. Titingnan natin yan as market,” added Barroma.
She said that Palawan is the only province outside Mindanao that is included in the BIMP-EAGA. The province’s rich and diverse natural resources, 2,000 kilometers long coastlines, a province with 1,768 islands and being a major tourist destination in the country and in the world is among the advantages that the province holds distinction compared with other places in the country.
She explained that the province is the largest in the country and 70% of its land is still forested. Of its land area, only 31% is considered the agricultural area, wherein 45% is still uncultivated.
“Pagdating sa agrikultura, malaki ang ating potentials. Yet there are only 55 person in one square kilometer in the province” she said.
Barroma said they are urging investors to engage in ventures such as utilization of raw materials in the province, agriculture and eco-tourism, organic fertilizers, bio fertilizers, Green economy investments, renewable energy production or sustainable tourism development.
For sustainable tourism development the towns of Coron, Busuanga, Culion, Linapacan, Cuyo, Cagayancillo, Kalayaan, Roxas, El Nido, Taytay and San Vicente are considered as priority investment areas for tourism, specifically for island/inland resorts, nature park, and mountain resorts, while towns in the southern part are considered as priority investment areas for agri-business and agri-industries, she said.
For agri-industrial development, investors can venture into in agri-lime production, cacao production, coconut production, goat raising, Napier grass production, rice and other cereal grains, banana production, pineapple production, oil Palm plantation, or engage in seaweed culture, fish culture and processing, she said.
Aside from the incentives offered by the Board of Investment (BOI), the provincial government also offers the same to investors and it is provided under the Palawan Incentive Code of 2013.
She also urged LGUs to come up with their local incentive code for investors in order to attract more business and investment in their locality.
She further explained that the provincial government, in helping the people to generate more income, has embarked on various projects such as seaweeds farming and culture, agri-lime production, and Napier grass production for livestock, among others.