Written by Walter I. Balane /MindaNews

DAVAO CITY (MindaNews) -- China is looking at potential "multibillion" investments in Mindanao, including $3 billion in mining in the next five years once cooperation is formalized in the region, Chinese ambassador Li Jinjun told reporters Tuesday. Li identified "huge business opportunities" for Mindanao in tourism, agriculture, fisheries, mining and infrastructure after Sec. Jesus Dureza, of the Mindanao Economic Development Council (MEDCo), and other trade and investment officials briefed him on Mindanao's peace process, the BIMP-East Asia Growth Area, and investment opportunities in Davao City and Mindanao. Li said many Chinese investors have eyed investments here but are just waiting for developments because they were worried about the "little and incorrect information" they know about Mindanao. He said China is concerned about the peace processes in Mindanao and said they are happy to see progress in the peace talks with the Moro Islamic Liberation Front (MILF).

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Posted by rjorr at July 26, 2006 9:54 AM