The Department of Agriculture (DA) is now actively inviting investors from the Middle East, Europe, Asia-Pacific and the United States to invest in the proposed P840-million halal model poultry farm to be set up in Cagayan de Oro City.

Halal is the term used for food that is permissible according to Islamic law.

According to Agriculture Undersecretary Jesus Emmanuel Paras, this halal investment opportunity is the Philippines’ way of getting even just one percent of the very lucrative world halal food-export industry which is currently valued at $500 billion. A Halal Economic Zone will also be set up in Davao.

He said Cagayan de Oro as well as Davao were chosen as the site for these multibillion dollar projects because these areas are free from the avian-influenza virus and the foot-and-mouth disease plaguing pigs.  They also have a very reliable supply of feed ingredients like corn, copra meal and fishmeal.

DA officials have already talked to representatives of Kuwait and Brunei for possible investments in the halal sector here.

from http://www.businessmirror.com.ph

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