|
Wednesday, July 13, 2005
Investments continue to grow
The political instability in the country has not had any tangible effects on the investment projects in Cebu so far.
“Maybe it’s (too) early yet to tell, but as of now, we don’t see any negative effect that the national political instability might cause. In fact, there are projects coming into Cebu,” said Board of Investments (BOI)-Cebu Extension Office chief Ernesto Pintac yesterday.
Among the firms applying for BOI incentives were a hotel and a company in fashion accessories, he said.
The country is in turmoil after President Gloria Arroyo was accused of electoral fraud.
After the two furniture companies in Cebu registered with the BOI in the first quarter this year, two more projects obtained approval for incentives for the second quarter.
One is the P10-million Cebu Noni Inc., a company that sells semi-refined Noni juice that will employ 22 workers. It is located in Catmon, Cebu.
The BOI also approved the application of Five Power Venture Development Corp. for its 220-room Park Lane Hotel in Cebu City, a P402.14-million project that will employ 146 people.
It will be operational in June of next year, Pintac said.
In the second quarter of last year, the BOI approved three applications for incentives. One was by a call center in Cebu City and the other two were firms in Negros Oriental.
The Department of Trade and Industry 7 said the BOI Cebu registered projects worth P97.52 million in the first quarter, up by 111 percent from the same quarter a year ago.
The trade office also said 3,831 new businesses were registered during the said period. (ALC/with JBN)
(July 13, 2005 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
