DAVAO

Investments in Davao hit P4B in last quarter of 2019

SunStar File

THE total investments in Davao Region approved by the Board of Investments (BoI) reached P4.1 billion in the fourth quarter of 2019.

It is 8.6 percent higher than the P3.8 billion investments in the same period in 2018.

Based on the data obtained from the BoI, Davao Region has a 1.12 percent share of P375 trillion registered BoI investments in the Philippines during the fourth quarter of 2019.

The investments include several low-cost housing projects by developers Bria Homes Inc., and Communities Davao in Davao del Sur and Davao del Norte, battery supply by Universal Power Solutions, Inc. to Integrated Renewable Power Facility Hubs in Maco, Davao del Norte and Malita, Davao Occidental, information and technology-enabled facility service by GLP Theorem Ventures Corporation in a wellness center in Davao City, and corrugated box production by Double Davao Printing and Paper Packaging Corporation in Panabo, Davao del Norte.

The number of projects that have registered with BoI also picked up from two projects in the third quarter in 2019 that amounted to P270.66 million.

However, the said investments provided fewer jobs than the projects in the last quarter of 2018.

Data revealed the 2019 projects have generated 597 job, less than half of the 1,465 generated in 2018.


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