Kapalong - Malaysia Partnership: Aiming for Sustainable Economic Development through Durian Industry Investment

by Super Admin

Mon, Apr 29, 2024 7:59 AM

The LGU- Kapalong through the Local Economic Development and Investment Promotion Office led by Arnel L. Panimbo, MPA-LG, in partnership with the NETAPHILS, Inc., Durian Industry Association of Davao City (CIDC), Topfruits Malaysia, NETAFIM, and Topfruits Philippines organized the Durian Investment Forum, where farmers, investors, and experts in the durian industry from Mindanao and Province of Palawan convened on Tuesday, March 19, 2024.The half-day forum was divided into two parts: farm exposure and forum proper. The former included a farm-exposure activity where participants visited Dr. Tan's Durian Farm in Mankilam, Tagum City, showcasing the irrigation system innovated by NETAPHILS, Inc. The latter enriched attendees with knowledge regarding the promising durian market, techniques, and innovative production methods. Following the farm exposure, the formal forum took place at the Kapalong Municipal Training Center, Kapalong, Davao del Norte.During the forum, Mayor Tess Timbol delivered a welcome address where she emphasized that the LGU has been actively finding solutions to the effects of the fusarium wilt disease which has resulted in the devastation of the banana industry in the municipality. Despite the challenges that have affected the local economic performance, initiatives such as the ease of doing business in Kapalong as an investment hub have been implemented, leading to Kapalong being recognized as the Most Business Friendly Municipality in the country for the year 2022.The mayor stated that investing in Durian is a strategic move to bring a feasible industry alternative to bananas, with a more stable and expanded local and global market.Presentations from various experts in the durian industry marked the commencement of the discussion, covering topics such as the Introduction and Updates of the Philippine Durian Industry, Global Durian Industry Update, Smart Farming, and Business Opportunities in Durian Farming. These were duly presented by Mr. Emmanuel Belviz, President of DIDC; Dr. Sue Tian Tan, Topfruits Malaysia; Mr. Alex Gamutan of NETAFIM; and Mr. Jack Sandique, President of Topfruits Philippines.The current valuation, projections, and growth trends of the durian fruit market were also covered. The market was valued at USD26.73 billion in 2023, projected to reach USD39.05 billion by 2030, with a 7.3% Anticipated Compound Annual Growth Rate (CAGR) during the forecasted period from 2024 to 2030.This investment forum is one of the manifestations of Kapalong's Actions aiming towards sustainable development and beyond.

Municipality of Kapalong

Quezon St. Maniki (Poblacion), Kapalong Davao del Norte, 8113

Kapalong - Malaysia Partnership: Aiming for Sustainable Economic Development through Durian Industry Investment

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Quezon St. Maniki (Poblacion), Kapalong Davao del Norte, 8113

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