By Mai Gevera

Davao City (11 July) -- Two Chinese businessmen publicly announced their intentions of investing in the province of Compostela Valley after conducting series of negotiations and explorations on the economic potentials of the said province.

Coming along with President Gloria Macapagal Arroyo Saturday morning during the president’s visit in the town of Compostela, the Chinese bared that $1 billion is about to be poured as investments for mining and telecommunication projects.

“We are conducting exploration activities at this time to really check how potential the area is.” said the Chinese investor referring to a certain area in the municipality of Maco where the former North Davao Mining had operated.

PGMA, as well, excitedly accompanied the Chinese investors and she herself announced the good news to the residents in Compostela Valley.

“You are very lucky to be getting $1 billion of investment out of the $4 billion that our Chinese investors will be pouring in the whole Philippines,” she said.

It’s worth noting that PGMA pushed for a revitalized mining act so as to maximize the mining potentials of some areas in the country and spur growth and development in the countryside by generating income and employment to the people.

The investors, this early, are still having negotiations with local counterparts as to how both parties will manage the planned investment.

In an interview, first district representative Manuel “Waykurat” Zamora expressed full support to PGMA’s plans of tapping and developing the mining sector in his province.

“ I was never against mining activities of large-scale mining companies as long as I am assured that the small scale miners could still thrive and even benefit from the presence of large scale companies.” Zamora said.