A Foreign Investment promotion and awareness programme in Isabel Province mid-last month concluded with promising results for future investments in the province.
A two-member team from the Foreign Investment Division (FID) of the Ministry of Commerce, Industry, Labour and Immigration (MCILI) visited the Province for a week where they met with the Premier Leslie Kikolo and his executive, Investment Stakeholders, Land Owner Association and other relevant stakeholders.
The team with support from Provincial Officers also made a site visit to the proposed Gozoruru New Township and other proposed sites.
During the mission, the team presented to Premier Kikolo a Business Monitoring Joint Action Committee (BMJAC) report which outlines the findings of the committee’s tour to the province in 2020 and also recommendations on how to strengthen business compliances.
Premier Kikolo acknowledged the report which he said will be helpful to his executive as they are preparing towards formalizing its sister relationship with Shandong Province in China.
He said the report will set a platform for investments in the Province with potential investors from Shandong once the relationship is established.
The Premier admitted that his province was a bit way behind in terms of development and would aggressively push forward by inviting genuine foreign direct investments into his province.
Isabel Province has plenty of registered land which would attract foreign investors to invest there.
The Premier also informed the team that his executive are working on ways to upgrade Suavanao airstrip to international standard, International Sea Port at Allardyce, Boost its fisheries sector, connecting roads and turning Gozoruru into a commercial and industrial area for the province.
The team also held discussions with the licenses and planning departments of the province on issues of compliance for foreign investors operating in the province as well as local registered companies. The discussions included steps in the FID registry and how to access online registration.
On planning, the need to have an investment office was discussed to assist in facilitating establishment of foreign investments in the province.
The team visited a former coconut crushing mill at Gozoruru, which stopped operating which still have potential for revival by foreign investors.
On the final day of the program, the team held an awareness talk at the Jejevo School which was attended by students from Forms 4 and 5 with their teachers and the principal of the school.
This awareness was intended to assist the students broaden their knowledge on foreign direct investments and the impacts they have on the economy and people.
– Source: GCU