1 minute read
House Committee on Aquaculture and Fisheries approves HB760
40-footer container per week for both pineapple and papaya will be arriving in Singapore within two weeks from the signing based on the agreement. Avante Agri Chief Executive Officer and General Manager Lalaine Lam adds that a weekly price quotation will be prepared for the products prior to the scheduled deliveries.
“Since prices for fruits like papaya and banana can go up a dollar or two, we need to agree on a weekly basis,” Lam said.
Advertisement
Meetings leading to the partnership have already kicked off back in April when Bananah & Co. was sourcing for potential partners in Davao City. The agreement was finalized at the sidelines of the Mindanao business mission in Singapore this week. “We are looking forward to a productive and efficient supply chain with good quality and reasonable prices,” Bananah & Co. Founder and Managing Partner Jason B.Y. Nah said.
In addition to supplying commodities in Singapore, Avante Agri is also looking at investments in farm development and expansion in Mindanao. “Investments like these can ensure that their volume and quality requirements are met,” Lam added.
Mindanao Development Authority Secretary Maria Belen S. Acosta echoes this sentiment, urging investors to look at valueadding investments as a priority when linking up with their Mindanao counterparts. ”We already have the vast lands and the ideal climate in Mindanao. If we pair it up with the right investments in infrastructure, processing, and renewable energy, we can scale up our trade and economic activities,” she added.
The business mission in Singapore is a fourday event that aims to present Mindanao as an ideal investment destination for top global market hubs such as Singapore. Follow through activities are expected to take place in the near future according to Tan Teck Lee, Country Head (Thailand, Malaysia, and Philippines) of the Singapore Business Federation.
“We are working with the Department of Trade and Industry and the MinDA for a conduct of an overseas mission trip early next year to visit investment areas in Mindanao,” he said.
