THE Board of Investment (BOI)-Mindanao registered a total of P28.6-billion worth of investments from January to October of this year.
For the first ten months of 2016, a total of 37 projects from different local and foreign corporations have so far been approved, generating 7,688 jobs.
The total accumulated investments as of October 2016 posted a total of 16.1 percent down as compared to registered investments for the same period last year amounting to P34.1-billion.
For Davao Region, a total of P7.7 billion combined investments were poured in by 13 projects which are set to be established in the region.
The robust influx of approved investments in Davao Region has employed a total of 4,858 workers.
Investments registered in the island-region were focused on industries like power, real estate, transportation, manufacturing, accommodation and food service activities and agriculture, forestry and fisheries.
Some of the biggest investors for this year in Mindanao are the San Miguel Foods, Inc. for a P2.2-billion feed-milling facility in Sta. Cruz, Davao del Sur and the Davao International Container Terminal, Inc. for its P1.9-billion seaport expansion project in Panabo City, Davao del Norte.
The feed-milling facility, which is expected to be completed by February 2017, will be constructed in a 13-hectare area.
Gil Dureza, BOI-Davao Extension Office director, said that for the past five years, investments in the island are in upward trajectory.
In July, Dureza disclosed last Monday that investments leads in Mindanao, mostly in Davao Region, reached a total of P886.75 billion, several folds higher as compared to same period last year which was pegged at only around P10 to P15 billion worth of investments.
Dureza revealed that these burgeoning investments leads, which are mostly from foreign investors (90 percent) are focused on manufacturing (P742 billion), infrastructure (P3 billion), power generation (P49 billion), resource-based agri (P33 billion), public-private partnership projects (P39 billion), business processing outsourcing (160 million) and mass housing projects (P510 million).
Dureza underscored that the investment leads are basic factor and potential multiplier to the economic performance in Mindanao.