Monday, May 08, 2006
2005 C. Mindanao investments up
NEW investments in Central Mindanao reached P4.4 billion in 2005, about 60 percent higher than the previous year's record of P2.764 billion.
The 2005 figure was based on the recorded investment mission, business matching, business name registration, and investment facilitation activities assisted by the regional Department of Trade and Industry.
"The investments generated in the region last year were mostly micro, small, and medium enterprises," Ma. Lourdes Lim, regional director of the National Economic and Development Authority, said.
Lim added that most of the investments were recorded in General Santos such as the Information and Communication Technology (ICT) Park, medical transcription companies, and marine dry dock facilities.
A cold storage facility for marine products was also established in Sarangani last year.
The municipality of Malungon, also in Sarangani, has recorded investments in mango processing plant and a mountain resort to promote tourism activity in the area.
In Cotabato City, the South Seas Mall started to operate during the same period.
The region covers the provinces of South and North Cotabato, Sultan Kudarat and Sarangani and the cities of General Santos, Koronadal, Tacurong, Kidapawan and Cotabato.
"The use of e-commerce, adoption of industry clustering approach, and strengthening of one-stop action center for exports and investments are some of the strategies that were set to boost investments," Lim said.
Agricultural harvests in the region also increased during the period. Banana, mango and pineapple production managed to grow by about 19 percent, 4 percent and 2.79 percent, respectively, the report said. (RBS)
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(May 8, 2006 issue)
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