Tuesday, October 16, 2007
City posts P4.3 billion new investments
By Joy Romares-Sevilla
THE Board of Investment (BOI) in Mindanao has registered 11 new investments in Davao City from January to September, this year, amounting to P4,354,540,000.
Five of these new investments, worth more than P390 million, are still on the process of registration.
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The 2007 investments performance released by the BOI identifies these new investments as Hedcor Power Project; Woo Hoo Wood Pallet Export; Citra Mina; Oroderm Medical Tourism; Information Technology (IT); Microtel; MTC Academy; Gene Transco Asia/Hog Genetic Material; Western FeedMill; GenTech Food Processing; and Sagrex Food Corporation.
The Hedcor power project has the biggest capital infusion amounting to P3,680,000,000.
Among the investments that are still in the process of registration are Sagrex Food, GenTech Food Processing, Western FeedMill, Gene Tranco Asia, and the MTC Academy.
Sagrex Food has a project cost of P188,840,000 and considered as the biggest investment among these five projects.
Gil Dureza, BOI chief in Mindanao, earlier said that Mindanao generated a total of P17.942 billion from the 2007 investment leads.
He added that BOI is confident to catch up with the target of increasing new investment by 10 percent or more for 2007 as compared to 2006 investment performance.
For more Philippine news, visit Sun.Star Cebu. For Bisaya stories from Davao. Click here. (October 16, 2007 issue)
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