Misamis Oriental tops investment record-A A +A
Tuesday, September 11, 2012
THE province of Misamis Oriental got the highest growth rate in terms of investments among five provinces in Northern Mindanao region—Camiguin, Misamis Occidental, Bukidnon and Lanao del Norte—during the second quarter this year.
With Northern Mindanao’s feat of augmenting investments by 138 percent during the quarter, Misamis Oriental accounted 71 percent or P7.04 billion. Total investments in Northern Mindanao region reached P9.81 billion from P4.12 billion in the same period last year.
Data from the Department of Trade and Industry in Misamis Oriental (DTI-MisOr) showed a big disparity between the total investments acquired by the province from first quarter to second quarter of 2012, with only P1.06 billion.
The province acquired the highest investments in infrastructure with 94.7 percent or P6.627 billion, according to the DTI-MisOr’s firm level monitoring.
DTI-MisOr also disclosed that increase in infrastructure investments in the province was largely attributed to additional investments of the Coca-Cola Bottlers Philippines Inc., Ayala Corporation and Paseo del Rio.
Other provinces in Northern Mindanao also posted positive growth rate during the second quarter of 2012 including that of Bukidnon and Misamis Occidental with P2.32 billion and P265.12 million, respectively. Lanao del Norte and Camiguin provinces recorded lesser investment growth to P153.14 million and P20.29 million in that order. (Hannah Mae S. Salugsugan)
Published in the Sun.Star Cagayan de Oro newspaper on September 12, 2012.