Eaga nets $2.3b new deals

Eaga nets $2.3b new deals

MANILA (UPI): A total of $2.35 billion in investment deals
across an economic cooperation area in east Asia was signed by
the Philippines, Brunei, Indonesia and Malaysia, officials said
yesterday.

The new projects bring to $2.63 billion the total agreements
reached between the four member countries since the East Asean
Growth Area (EAGA) was formed in March 1994.

Presidential Assistant Paul Dominguez said the new agreements
include the installation of a water distribution system between
Malaysia and the Philippines and the construction of a coco coir
facility in the southern province of Sulu.

Dominguez said the most of projects would be undertaken by the
private sector, which has actively supported the growth area.

Eaga aims to boost the economic performance of regions in the
four countries which have lagged behind the national development.