BOI: New investments in Q2 reach P729.3M-A A +A
Friday, July 11, 2014
THE Bureau of Investments (BOI)-Davao Extension Office reported that new investments registered under the agency reached P729.3 million for the second quarter of this year.
Based on the data released to Sun.Star Davao by BOI-Davao extension office head Gil M. Dureza, there were a total of five investments that were registered at their office. These new investments are located in Surigao City, Davao del Sur, Davao Oriental, North Cotabato, and South Cotabato.
Investment areas included food processing, renewable energy, and tourist accommodation facility, generating at least 450 jobs.
The biggest bulk of the quarter's investment will be poured in by NV Vogt Solar Energy One Inc., a renewable energy developer of solar energy resources. They will be investing P554.526 million in Surallah, South Cotabato and will be able to generate 64 jobs.
In Davao del Sur, Coco Davao Inc. will be investing P124.95 million for the production of coconut water concentrate for export at the local government of Sta. Cruz, it will be able to generate 169 jobs.
See's International Food Manufacturing Corp. will be investing P7 million for the production of banana chips for export in Mati City, Davao Oriental and will be able to generate 108 jobs.
In North Cotabato, Treelife Coco Sugar will be investing P17.79 million for the production of coco sugar and will generate 51 jobs.
Lastly, Clybros Merchandising Inc. will be investing P25 million for the establishment of a tourist accommodation facility at Surigao City and will be generating 58 jobs.
During the first quarter of this year, investments registered through BOI-Davao reached P13.94 billion and will be able to generate some 1,320 jobs.
Investments were located in Davao City, Davao del Norte, Davao del Sur, and Agusan del Norte. Investment areas included transportation and storage, real estate, agriculture, electricity and manufacturing.
Published in the Sun.Star Davao newspaper on July 12, 2014.