Matnog, Sorsogon – Japanese investors have earmarked $100 million to develop a “model city” in a 20-hectare land to be provided by the municipal government of Matnog.

A memorandum of agreement (MoA) on the project was signed by the parties over the weekend.

Matnog Mayor Guillermo G. So said that Japanese consortium headed by Dr. Hisato Nakamatsu, president of the Chikyusalsei Kikou Ltd. (Earth Rebirth Engineering Ltd.) of Okinawa, Japan, and AIPAC Philippines, Liga ng Magniniyog, and local government unit (LGU) of Matnog signed the MoA that calls for the establishment of an “Ecological Model City” in the Bicol Region.

The project is expected to boost local tourism and generate employment for the Bicolanos.

“This is the chance of my provincemates to have an “Ecological Model City” with the $100-million investments by the Japanese investors,” So said after the signing of MoA.

He said the model city will have an environment-friendly solar dryer, salt-making factory, hydrogen-water processing plant, hotel resort, Japanese retirees village, hospital and clinic, fish port, agro-tourism and marine park.

The mayor said that the modern city will be complemented by an international airport which will be constructed on a 20-hectare land.

The MoA also strengthened the friendly relationship between the Philippines and Japan through the reciprocal programs of HSBC, UBS and JBIC, So added.