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Wednesday, September 06, 2006
Mayor optimistic on Tan's P1.25-B investment in CDO
MAYOR Vicente Emano expressed optimism that business tycoon Lucio Tan will pursue his intention of putting up a P1.25-billion worth of investment in Cagayan de Oro.
Emano revealed that the city's stable peace and order condition coupled with the easy processing of business licenses here are the prime reasons why many investors are opting to invest in Cagayan de Oro.
Already, key representatives from Lucio Tan's group of companies have discussed the investment proposal with Emano.
The P1.25B investment that the business mogul is planning to establish here reportedly includes a P1 Billion distillery and a P250-million soft drinks plant.
Tan announced the business plan during the 15th Mindanao Business Conference held recently in Zamboanga City where he was the guest speaker.
With its huge infusion of capital, Emano said, this new investments will surely translate into more job opportunities for the city residents, boosting the city's already vibrant economy.
"This (proposed investments) only shows that there's no stopping the economic growth of Cagayan de Oro," Emano stressed.
The report, according to Emano has even reached President Gloria-Macapagal Arroyo who expressed optimism on the company's huge investment in this part of the country.
"Make sure it (Tan's investment) will materialize and won't be wasted," Emano quoted the President as saying in a phone conversation just recently. (CIO)
(September 6, 2006 issue)
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