NEW investments generated in Northern Mindanao have dropped to P2.76 billion for the first quarter of 2019, which is 25.6 percent lower compared to the P3.71 billion posted on the same period in 2018.
According to the National Economic and Development Authority (Neda)-Northern Mindanao, the decline in the region's investment is due to the decreased investments in Misamis Oriental by 27.8 percent to P2.16 billion.
Misamis Oriental is Northern Mindanao's primary recipient of investments.
Decrease in business name registrations were are also recorded in Lanao del Norte (from P220.57 million to P183.82 million) and Misamis Occidental (from P305.83 million to P162.36 million).
Meanwhile, based on the data reported by the Department of Trade and Industry-Northern Mindanao, the investments in energy and trading sectors dropped by 99.8 percent and 73.6 percent, respectively.
The region's top sources of investments were the infra and services sector with 56 percent (P1.54 billion), agri-based sector with 18.8 percent (P518.61 million), and serving sector with 16.3 percent (P450.16 million).