A CHINESE plastic packaging company has signed a location agreement with an industrial zone operator in Panabo City, Davao del Norte, the industrial zone’s operator said.
Damosa Land Inc. said Davao Zhenzhi Corp. “leased a 2,000 square meter warehouse for plastic processing at the Anflo Industrial Estate in Panabo City, Davao del Norte.
“Their products are plastic packaging for agriproduce like bananas,” Damosa Land, which signed the agreement Wednesday, said.
The company becomes the 12th locator in the industrial zone.
Earlier, Japanese company Packwell Inc. also signed a lease agreement with the company for a packaging plant.
Arturo M. Milan, Davao City Chamber of Commerce and Industry, said representatives of both locators are attending the Davao Investment Conference.
Mr. Milan said half of the 600 delegates are foreigners. Twelve of them are ambassadors and six of them are from the European Union.
He added that the entry of foreign investors is an indication of the demand for industrial zones and industrial developments.
“Industrial zones are important for both local and foreign companies to get attracted,” he added.