Chinese investors explore DavOr
Davao Oriental — Chinese investors are set to explore investment potentials in the Ancestral Domains here following the signing of Memorandum of Understanding (MOU) between Yeung Marine Holdings, Incorporated, and the Mandaya Tribal Councils and Indigenous Peoples Mandatory Representatives (IPMRs) in the Municipalities of the First District.
Donny Yeung, a Filipino-Chinese investor represented Yeung Marine Holdings, Inc. during the MOU signing on Tuesday, February 12, at the Capitol’s Grand Conference Room.
Hoping to immediately start the huge project by helping IPs develop their ancestral lands, Yeung Marine Holdings, Inc. seeks to expand its line of global trading by investing on agricultural farming, livestock, aqua-marine, aqua-culture resources farming, tourism, port development, among many others in the province.
Yeung said they have projected the project to cost more than a billion-dollar considering the vast area of ancestral land here which comprises 60 percent of the total land area of Davao Oriental.
Yeung Marine Holdings, Inc. will provide technical assistance to the Mandaya Community at the same time ensure competitive market of the products.
“We will fast track discussing what’s the best benefit for the local people as well as what’s the best benefit for the investor. So, if we reach a winwin situation that would be the long line business,” he said.
Likewise, Yeung assured their utmost respect to the customary laws of the IPs, stressing that the rights of the locals will not be infringed while looking for the best ways to help the highlanders earn.
Of the 12 Ancestral Domains in Davao Oriental, the Ancestral lands in the Municipality of Boston is ready for economic development as they have been declared an economic zone. Boston Vice Mayor Eleuterio Manaytay, who at the same time is the Provincial Tribal Chieftain, said that the upcoming investment will pave the way to realize their plans as contained in their Ancestral Domain Sustainable Development and Protection Plan (ADSDPP).