BUSINESS climate in Mindanao continues to thrive as the Board of Investment (BOI) Mindanao is expecting 15 more investment projects on the island this year.
These 15 lead investments are from real property, agri-development production, industrial park, manufacturing and coco processing for export projects.
"At present, a total of 15 companies are showing interests in investing to Mindanao," Gil M. Dureza, director of BOI-Davao Office Extension, said in Wednesday's edition of Wednesdays at Habi at Kape at the Abreeza Mall of Davao.
Of these projects, 80 percent will be poured in Davao Region. These investors are both foreign and local firms which are up for expansion.
However, Dureza refused to divulge the investors’ identity as they are still in the different permitting and exploratory stages.
According to BOI-Davao’s investment performance of the approved projects for the whole year of 2015, a total of P4.9 billion was poured down to Davao Region, a 35.5 percent increase as against 2014’s performance at P3.6 billion.
For Mindanao, biggest bulk of the investment was contributed by the big power projects.
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, P2.3 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 manufacturing industry, a China-based box manufacturing plant company is coming in the city and is currently conducting its warm up or trial project in Calinan.
“They are still in process of registration but they already started one trial project here in Calinan area in Davao City,” Dureza said.