Security an issue with Mindanao for some foreign investors

Some foreign investors are discouraged by the peace and order situation in Mindanao, with some backing out because of recent security issues, Mindanao Development Authority (MinDA) head of ecozone planning Heidi Villanueva, has said, according to Mentioning Mindanao in business networking sessions or negotiations would sometimes illicit negative response from foreign investors, she said. However, Bernie Tomas Jr., of the investments production division of MinDa also stressed in a press conference yesterday that countryside development is needed and one strategy that is addressing this is ecozones. Tomas said out of the 80 ecozones in Mindanao, 26 companies are engaged in information technology (IT) – business process outsourcing (BPO); 20 for agro-industrial; 28 for manufacturing and four for tourism and one for medical tourism.