Mayor of Cagayan de Oro City calls for Indian investments

New Delhi, May 19 (UNI) The Mayor of Cagayan de Oro Philippines Vicente Y Emano today called for Indian investments in the city, strike beneficial business partnerships and explore the possibilities of export to third countries.

''We want you to consider Cagayan de Oro as an investment destination. I assure you that we will adjust to you in making it easier for you do business in our city,'' Mr Emano said at an interactive meeting organised by the Federation of Indian Chambers and Industry (FICCI) here.

The Mayor said Cagayan de Oro is a veritable goldmine for those in search for new investment and tourist destinations. The city, he said, offered a range of advantages, which the Indian business could cash on.

It has rich agriculture environs, a broad consumer and manpower base, cheap and abundant power, strategically located international seaports, modern telecom facilities, adequate infrastructure and a highly efficient educational system, he said.

''There are bright prospects for technical cooperation between India and Philippines in sectors such as dairy and other agro-based industry, CNG for public transport, bio and thermal energy and in space and defence-related industry,'' India-Philippines Joint Business Council Chairman Vikas Jalan said.

The India-Philippines bilateral trade would go up to 2 billion dollar before 2010 from 577 million dollar last year, he added.

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