Northern Mindanao investments down

Wednesday, December 7, 2011

NORTHERN Mindanao investments recorded a downward trend during the third quarter in 2011 compared to the same period last year, the Department of Trade and Industry (DTI)-Northern Mindanao reported Tuesday.

In a report submitted to the Regional Development Council (RDC), which was presented during a media forum at the National Economic Development Authority (Neda)-Northern Mindanao, the DTI said during the period investments poured in amounted only to P1.99 billion or 47 percent lower compared to last year’s P3.8 billion.

Have something to report? Tell us in text, photos or videos.

Misamis Occidental accounted 30 percent (P598.98 million). Business name registration comprises 11 percent of the total provincial investments. Service and consumer manufacturing sector comprises 62 percent and 11 percent, respectively. Major investments include additional investments, capital infusion and expansion projects from Lorenzo Tan Multi-Purpose Cooperative, Park n Go Bakeshop, PAGLAUM Multi-Purpose Cooperative and Mindanao Rock for their acquisition of construction equipments, the report said.

An increase of 957 percent compared to the same period last year was noted under the services sector. The surge of investments was brought about by the strengthening of the investments of the cooperative sector which include infrastructure projects, new capital infusion and other related services, the report said.

Lanao del Norte contributes 30 percent share with P592.58 million investments. Investments generated through their investment promotion center accounted for 60.48 percent, while business name registration accounts 11.18 percent of the total investments.

Major investments of the province were accounted under infra and services and trading sector with 60.48 percent and 20.30 percent, respectively.
These investments include retrofitting of pre heater, construction of an overpass road and purchase of an overhead crane of a major cement corporation. Other investments include expansion of an appliance center, construction of a dormitory, gasoline station and commercial and trading enterprises, among others.

Infra and services-related investments surge up this period compared to the same period last year due to the investments of Iligan Cement Corporation to address their structural and safety issues with regard to their operations.

Bukidnon has contributed 29 percent of the total regional investments with P571 million. Business name registration comprises only nine percent of the total provincial investments. The bulk of investments was accounted on infra and services sector with 84 percent and 10 percent, respectively.

Major investments include the MVC Academy Hydro Plant and Eco-Resort expansion of area for banana production and poultry farms was also noted, the DTI added.

In 2010 of the same period, major investments were only noted in the agri-based sector, while infra and the services-related investments were thin compared to this period.

Misamis Oriental also contributed lesser investments on region-wide record to nine percent only to P179 million, a decrease of 95 percent compared to the same period last year.

Although infra and services-monitored investments in the province are evident this year, however, the bulk of last year’s investments of the same quarter came from the Coca Cola bottling plant in Villanueva town, which brought about P3 billion investments. Other investments this period include expansion of poultry farms, real estate services, suites, ice plant and cold storage and fast food franchise.

Business name registration, an indicator of new investments comprises 65 percent of the total provincial investments, the report said.

Camiguin’s total investment of P45.68 million has a two percent share to the regional total. These investments are derived from small and medium enterprises (SME/Cluster and one-town one-product or Otop projects, banks and business name registration, trading, infra and services and agri-based sectors including the various tourism related investments.

On the sources of investments, 15.21 percent or P302.30 million of the regional total investments is accounted by business name registrations, one of the indicators of new investments; investment promotion center, 19.59 percent (P389.50 million); local government unit investments initiatives with 7.16 percent (P142.34 million); banks, 3.26 percent (P64.76 million); financing, 2.89 percent (P57.43 million); 1.81 percent from SME/OTOP/Cluster projects (P36.04 million); Securities and Exchange Commission (SEC) with 1.01 percent (P20.0 million); and 49.07 (P975.45 million) from other multi-sources investments.