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THE government is encouraging big time developers in Dubai to invest
in mining and ecotourism ventures in the Philippines, Environment
and Natural Resources Secretary Lito Atienza said Monday.
Atienza added the big time developers from Dubai
are expected to arrive in the Philippines by the middle of the
month.
“In my recent visit in Dubai, where
mega-structures are being constructed, I had the opportunity to meet
with the top developers in the Middle East countries. I explained to
them the Philippines’ potentials in mineral resources in which
they can possibly invest in projects such as mining and
ecotourism,” Atienza said.
He stressed that the construction boom and
development in Dubai would require a high demand for metals coming
from the country.
Atienza said the government is using the
downstream investment strategy to promote mining and is urging
potential investors to expand their businesses in the country.
“That’s the way mining should really go in
the Philippines in order to ensure responsible mining in the
country, as enshrined under the Philippine Mining Act of 1995. Under
the supervision of the DENR [Department of Environment and Natural
Resources], I would like to believe that it is the promotion of
processing rather than extraction that promotes mining in our
country,” Atienza explained.
The Environment chief also expressed optimism
that the country’s mining industry would remain steady until the
government attains its investment target of $11.2 billion by 2011.
“With the country’s big mineral potentials,
I am optimistic that a properly managed Philippine mining industry
will become a major pillar of the country’s economy and a major
factor in attaining our target in mining investments,” Atienza
said.
Atienza said that from 2004 up to the first
quarter of 2008, a total of $1.72-billion worth of investments came
from various mining, processing and exploration projects. He added
that an additional investment of $9 billion is still expected to be
poured into that sector up to 2011.
-- Ira Karen Apanay
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