INVESTMENTS registered in Davao Region burgeoned to P7.684 billion for the 10 months of 2016, some 63 percent up from the total investments of P4.708 billion in 2015, the Board of Investments (BOI)–Southern Mindanao revealed.
Bulk of the investments or 33 percent (P2.5 billion) of the total BOI applications approved and registered were poured in Davao City, followed by Davao del Sur (29 percent or P2.2 billion), Davao del Norte (27 percent or P2.06 billion), Compostela Valley (7 percent or P517.7 million), and Davao Oriental (4 percent or P342 million) while Davao Occidental recorded no registered investment as of October 2016.
Department of Trade and Industry Regional Director Ma. Belenda Ambi said earlier, the fact that total amount of approved investments for the first 10 months of 2016 already surpassed the previous year’s record is already a manifestation that Davao Region has an upbeat investment climate.
Of the 10 projects initiated by various companies, the P2.244-billion manufacturing project of San Miguel Foods Inc. in Davao del Sur is the biggest.
The new investments, according to BOI, would generate 4,010 jobs in the region.
Based on BOI’s data, San Miguel Foods Inc. was followed by the Davao International Container Terminal Inc. P1.885 billion worth of transportation and storage project of in Davao del Norte and Damosa Land Inc. P596.59 million real estate project in Davao City.
The other approved investments were the P540.97 million accommodation and food service activities of FTC Group of Companies in Davao City, P517.77 million electricity project of Euro Hydro Power (Asia) Holdings Inc. in Compostela Valley.
BOI also approved the projects of PNX Chelsea Shipping Corp. (P507.60 million), AVLB Asia Pacific Conglomerate Inc. (P500 million), Grupo San Pedro Reality Corp. in Davao City (P372.10 million), Anflo Banana Corp. in Davao Oriental (P 342 million) and Cocohaus Corp. in Davao del Norte (P177.5 million).
For the investment’s sectoral breakdown, the leading industry is still manufacturing (38 percent) followed by transportation and storage (31 percent), real estate activities (13 percent), Accommodation and Food Service Activities (7 percent), Electricity, Gas, Steam and Air Conditioning Supply (7 percent), and Agriculture, Forestry and Fishing (4 percent).
