THE Board of Investments in Davao City (BOI-Davao) approved projects with a total estimated cost of P62.8 billion in Mindanao in 2018, a nearly two-fold increase from the P32.3 billion approved investments in 2017.
Of the total, around P17 billion worth of projects are in Davao Region.
According to BOI-Davao, the biggest investment will come from Apo Agua Infrstructura, Inc., a new operator of bulk water supply (Davao City Bulk Water Supply Project) in Tamugan District, Davao City, with a project cost of P13.3 billion.
Other notable projects are: expansion of Universal Robina Corporation flour production in Kilometer 10 Sasa, Davao City, worth P2 billion; Good Shepherd Hospital of Panabo City, with P361.5 million; and the Syntek Agri-Bio Corporation in Panabo City with P325.9 million.
Other approved investments are the Yuson Excellence Soberano, Inc. in Barangay 11, Davao City, P314.3 million; Sea Oil Philippines Inc. in Davao del Sur, P287.4 million; Urbaneast Development, Inc. in Catalunan Grande, P179.7 million; Realty Investments Incorporated in Talomo District, P171.1 million; Flatworld Solutions (Philippines), Inc. in Buhangin, Davao City, P121.2 million; MTM Marine Enterprise Inc. in Davao Oriental, P41.5 million; Specialist Primary Care of Ilang, Inc. in Bunawan District, Davao City, P15 million; Jadeline Development Corporation with project cost of P14.8 million; and See's International Food Manufacturing Corporation in Bunawan District worth P14.7 million.
In other parts of Mindanao, the Pulangi Hydro Power Corporation, renewable energy developer of 250-megawatt South Pulangi Hydroelectric Power Plant Project in Barangay Tangkulan, Damulog, Bukidnon has the biggest project cost of around P38 billion.
In 2019, the BOI ended the first quarter with a 60-percent increase in approved investments across the country. From January to March this year, overall investment pledges reached P243 billion, higher than the first quarter of 2018's P152.1 billion.