A TOTAL of 5,233 jobs have been generated by new investments across Mindanao for the year 2015, some 38 percent lower as compared to last year's 8,384 generated jobs.
The Board of Investment (BOI) Davao Extension Office annual data for 2015 showed these jobs are generated from all the 34 new investments poured in on the island.
Of the figure, Davao Region accounted for an estimated 60 percent with a total of 3,236 job opportunities from 15 new projects invested throughout the year.
For the last quarter of last year, seven new investments were poured in Mindanao. The seven investments are in the manufacturing, real-estate, accommodation and food service activities and power sector. It has combined investments of P3.9 billion.
For the investments made in the last quarter, a total of 817 jobs were made available by the new investors. The new firms invested or expanded in the island are Pilmico Foods Corporation, Yega Development Corp., Grand Asia Integrated Natural Coco Products Corporation, Enfinity Philippines Renewable Resources Fourth Inc., Filinvest Land, Inc., Gohotels Davao Inc, 8990 Housing Development Corporation.
BOI’s data showed that the overall 34 projects in Mindanao for last year summed up to P37.3 billion worth of new investments were recorded in Mindanao for the year 2015, some 49 percent decrease in investments as compared to 2014’s P73.2 billion investments.
The sharp drop, however, can be attributed mainly to the approval of big projects from the different industries including power, agriculture, forestry and fishing, transportation, real-estate, accommodation and service and Business Process Outsourcing industry.
However, biggest bulk of the investment was contributed by the big power projects in the island.
These are the P14.8 billion combined project cost of the Hedcor Bukidnon, Inc.’s 43.4 MW Manolo Fortich 1 and 25.4 MW Manolo Fortich 2 Hydroelectric Power Projects, P5.7-B Del Sol Energy CGS, Inc.’s Solar Energy project in GenSan Phase I and II, P2.6-B project of Enfinity Philippines Renewable Resources Fourth Inc. for its 33.566 MW Solar Power Project, P 2.3 billion Power Source Philippine Energy Inc.’s 20MW coal-fired power plant project and P1.1 billion Supreme Power Corporation’s 11.9 Diesel Power Plant in Koronadal.
For the agri-business sector, Sumifru Agricultural Development Inc., poured some P5B for its new Export Producer of Cavendish Banana with a capacity of 14 million boxes located in Bukidnon.