Investments double

THE Board of Investments in Davao City (BOI-Davao) approved projects with a total estimated cost of P62.8 billion in Mindanao in 2018, a nearly two-fold increase from the P32.3 billion approved investments in 2017.

Of the total, around P17 billion worth of projects are in Davao Region.

According to BOI-Davao, the biggest investment will come from Apo Agua Infrstructura, Inc., a new operator of bulk water supply (Davao City Bulk Water Supply Project) in Tamugan District, Davao City, with a project cost of P13.3 billion.

Other notable projects are: expansion of Universal Robina Corporation flour production in Kilometer 10 Sasa, Davao City, worth P2 billion; Good Shepherd Hospital of Panabo City, with P361.5 million; and the Syntek Agri-Bio Corporation in Panabo City with P325.9 million.

Other approved investments are the Yuson Excellence Soberano, Inc. in Barangay 11, Davao City, P314.3 million; Sea Oil Philippines Inc. in Davao del Sur, P287.4 million; Urbaneast Development, Inc. in Catalunan Grande, P179.7 million; Realty Investments Incorporated in Talomo District, P171.1 million; Flatworld Solutions (Philippines), Inc. in Buhangin, Davao City, P121.2 million; MTM Marine Enterprise Inc. in Davao Oriental, P41.5 million; Specialist Primary Care of Ilang, Inc. in Bunawan District, Davao City, P15 million; Jadeline Development Corporation with project cost of P14.8 million; and See’s International Food Manufacturing Corporation in Bunawan District worth P14.7 million.

In other parts of Mindanao, the Pulangi Hydro Power Corporation, renewable energy developer of 250-megawatt South Pulangi Hydroelectric Power Plant Project in Barangay Tangkulan, Damulog, Bukidnon has the biggest project cost of around P38 billion.

In 2019, the BOI ended the first quarter with a 60-percent increase in approved investments across the country. From January to March this year, overall investment pledges reached P243 billion, higher than the first quarter of 2018’s P152.1 billion.

April 2, 2019 SunStar Davao