THE Philippine Board of Investments (BOI) reported an increase in registered investments in Davao Region in 2020 despite the Covid-19 pandemic.
Data from BOI showed that BOI-registered investments in 2020 increased to P8.45 billion from P6.62 billion in 2019.
"For 2020, Davao has contributed mostly in the areas of agriculture, forestry, and fishing, real estate activities, manufacturing, and accommodation and food service activities. We also have projects under administrative and support service activities as well as human health and social work activities," BOI Executive Director Bobby Fondevilla said during the Davao Investment Conference 2021 on November 11, 2021.
BOI said in a statement that real estate activities had the highest amount in investments in 2020 at P3.48 billion. It is followed by accommodation and food service activities (1.8 billion,), manufacturing (P1.19 billion), and electricity, gas, steam and air conditioning supply (P1.14 billion).
8990 Housing Development Corporation recorded the biggest investment in Davao Region with its P2.17 billion economic and low-cost housing project in Davao City.
Other large investments in Davao Region include CHMI Hotels & Residences, Inc.'s P1.8 billion tourist accommodation facility in Davao City and the P1.1 billion Battery Energy Storage Solutions (BESS) of Universal Power Solutions, Inc. in Malita, Davao Occidental.
Other big investments in the region were coming from Millenium Specialty Coco Products, Inc, a new export producer of coconut products in Panabo City (P994 million); Anflo Banana Corporation, a new export producer of fresh cavendish banana in Davao Oriental (P616 million); and Tagum Water Company, Inc., a new operator of Bulk Water Supply in Tagum City (P586 million).
"You can see that in 2020, the Davao Region has really contributed a lot," Fondevilla said. (RJL)