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OFWs in Saudi to engage in poultry farming: DTI

by 5m Editor
15 March 2007, at 9:59am

SAUDI ARABIA - Overseas Filipino workers (OFWs) in the Kingdom of Saudi Arabia could now be transformed into Overseas Filipino Investors (OFIs) through a poultry farming project, an investment opportunity for OFWs in the same country.

Assistant Secretary Merly Cruz of the Department of Trade and Industry (DTI) said this, adding that the project is a joint venture of a Saudi-based company and Maharlika AgroMarine Venture, owned by Vicente Lao, of the Philippines.

The joint venture is to set up a poultry project in the Kingdom of Saudi Arabia, an initiative of Kalid Zainy, chair of the Abbar and Zainy Group.

Cruz, who recently headed a trade and investment mission to Saudi Arabia, said that the project is one of the mission breakthroughs.

"Lao said at the end of the year, investors are guaranteed to get an earning. He said that poultry is a viable venture," Cruz said at the Club 888 media forum Wednesday.

"It is not only timely, but it is also a unique project, pinag-isipan talaga ito para matulungan ang mga OFWs (this has been thoroughly thought to help the Overseas Filipino Workers)," Cruz added.

Source: Sun Star

5m Editor