Turkish investors set to visit Cebu

CEBU, Philippines - Representatives from one of Turkey’s largest conglomerates, Mir Holdings, are set to visit Cebu this month to explore possible investments in the province.

This visit will kick off a series of Turkish investors exploration in Cebu as the province gained the interest of big conglomerates in Turkey, said Cebu Chamber of Commerce and Industry (CCCI) president Ma. Teresa Chan.

Mir Holdings is engaged in diversified businesses, one of its core competencies is into construction and engineering solutions. There are about seven subsidiary companies under the Mir Holdings.

"The company is very keen on exploring opportunities and possible partnerships here," said Chan.

In February next year, another group of Turkish investors are scheduled to visit Cebu, said Chan adding that this development is just few of the results of the closer ties of Cebu and Turkish business organizations.

The Chamber had an existing sister-chamber agreement with the Tuckson Confederation of Chambers of Commerce, Masaid Chamber in Izmir and Diad Chamber in Denizli.

Recently, 12 Sri Lankan businessmen came to Cebu to establish good trade partnerships.

 The delegation met with potential business partners interested to undertake projects in Sri Lanka on real estate and development, agriculture, newsprint, wood-free writing paper manufacturing, LED street light systems and inbound travel agents/operators among others.

 Likewise, German companies explored opportunities on energy investments.

 According to Chan inbound trade missions is seen to double in number next year, as interest of international investors is now directed to Cebu.

 "We may not be the biggest economy in the country but we are the fastest growing," Chan said.

Earlier, Chan announced that CCCI is going to institutionalize its partnership with the Cebu City and Cebu provincial governments to effectively host growing number of international inbound trade missions, and investment group delegations exploring opportunities in Cebu.

"It is better to be well prepared," Chan added.—(FREEMAN)