EAGA entrepreneurs set up firm to corner chicken market in MidEast

PHILIPPINES - Entrepreneurs in the East ASEAN Growth Area (EAGA) have established a $5 million multinational corporation to corner the Middle East market for chicken and poultry.

Engr. Merly Cruz, Trade and Industry director for Southeastern Mindanao, said the company, BIMP Multinational Corp., was registered in Brunei last month, with each representative from Brunei Darussalam, Malaysia, Indonesia and the Philippines pooling their resources to pay for the $5,000 registration fee.

BIMP-EAGA comprises Brunei, East Malaysia, Mindanao and Palawan in the Philippines, and East Indonesia.

The Philippines is represented in the BIMP Multinational Corporation by businessman Vicente Lao but Cruz said they are looking for other small and medium enterprises in Mindanao to become incorporators.

“The corporation would replace the market gap left by Thailand which marketed chicken to the Middle East,” she said.

Source: Mindanews
calendar icon 31 March 2005
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