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Mindanao’s Security Problem Scares Tuna Storage Investors

Efforts to attract out-of-town investors to the fish port complex here, particularly in cold storage facilities, are not gaining ground due to the volatile security situation gripping other parts of southern Philippines, an official of a state-run firm said.

Miguel B. Lamberte, Jr., local manager of the Philippine Fisheries and Development Authority which manages the General Santos Fish Port Complex, said in an interview that prospective Manila-based investors have shelved intentions to venture in cold storage facilities that would have supported the growth of the tuna industry.

”We have been getting feelers from out-of-town investors in the cold storage industry, but they are scared to push through. It’s regrettable that these companies are turning away because of the security problems hobbling other parts of Mindanao,” he said.