Davao investments drop in first half

INVESTMENTS in Davao Region dropped by 90 percent in the first half (1H) of 2015 as compared to the same period last year.

Based on Davao Region Economic Performance and Update for first the semester of 2015 prepared by the Board of Investments (BOI)-Davao Extension Office, a total of P1.4 billion new investments have been poured in the region during the first semester of 2015, much lower as against the P14.67 billion investments recorded in the same period last year.

The agency recorded eight new investments in real estate, transportation and storage, administrative and support service activities, and manufacturing.

The biggest bulk of the 2015 first semester data is contributed by the real estate industry with three new investments amounting to P994.6 million, covering 71 percent of the total new investment during the period.

Of the figure, P322.8 million of which is from the Johndorf Ventures Corporation, P276.6 million from Davao Joyful Homes Realty Corporation, P253.1 million from Communities Pampanga, Inc. and P142 million from Mountain Haven Development Inc.

The transportation and storage, and administrative support service activities industry contributed P202.4 million. Of the figure, P118.6 million of which is from Cybercity Teleservices Philippines, Inc. and P83.7 million of which is from Panabo Trucking Services, Inc.

The manufacturing industry contributed a total of P 174.3 million, around 12 percent of the total new investment for the firtst semester.

Under the manufacturing industry, the Starbridge Global Corp. poured some P169.2 million while the Consolidated Plywood Industries, Inc contributed P5 million.

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