MANAMA, BAHRAIN — President Rodrigo Duterte on Thursday, April 13, witnessed the signing of Memorandum of Understanding between AMA Group Holdings Corporation and Nader & Ebrahim Sons of Hassan Company W.L.L. (NEH) held in Four Seasons in Manama.
The AMA Group is represented by its founder Dr. Amable Aguiluz V who is the current Special Envoy to the Gulf Cooperation Council.
Meanwhile, the NEH, represented by its chairman Ebrahim Hassan Mubarak Al Ameer, engages in various industries from hospitality management, property development, consumer electronics, to food distribution.
The parties agreed to expand their operation in Mindanao, particularly in Davao, targeting additional 10,000 hectares of farmland for agricultural production with additional investment of US$250-million over three to five years to ensure successful implementation of the expansion project.
This project, which is in line with President Duterte’s thrust to economically develop Mindanao, is expected to produce 560,000 metric tons with export value of US$280-million annually and generate about 3,000 farmworkers and 500 back-office support staff.
Trade Secretary Ramon Lopez and Philippine Ambassador to Bahrain Alfonso Ver were there at the ceremony. Among those Bahraini businessmen who witnessed the event were Shaikh Duaij bin Isa Al Khalifa, chairman of Bahrain-Asian Traders Committee, and Khalid Almoayed, chairman of Bahrain Chamber of Commerce and Industry.