04 Jul Cagayan de Oro is in a State of Economic Boom: Multi-National Companies with an Investment Presence in the City Signals a Confidence in the City’s Economic Ability
A multi-national company wanting to invest in a city or town needs to study and take into consideration the following factors: (1) Stability of location with possibility of expansion, (2) Quality and quantity of possible labor force, (3) and Economic stability and peace and order situation of the city or town.
Based on the above it’s safe to say that Cagayan de Oro passes with better than average grades for all three. The mere number of multi-national companies willing to set up shop in the city is testament to the city’s economic ability to support these companies such as seaport and land transportation infrastructures and economic zones, air transportation facilities, and other economic support structures from both government agencies and the private sector. For the city, it means more tax influx into the local coffers and more employment opportunities for the locals and from nearby towns in Misamis Oriental.
Featured here are the multi-national companies within its boundaries only.
One of the oldest multi-national companies to set up shop in Cagayan de Oro, its manufacturing plant is in Tablon, along the National Highway on the city’s east side. It is one of three plants in the Philippines – the other two being in Lipa (Batangas) and Cabuyao (Laguna) – to serve as ASEAN supply centers to meet growing requirements of Nestle markets in the region. Of course, everyone knows Nestle as the makers of world-famous products like Nescafe, Nido, Milo, Nestea, Maggi, and Bear Brand.
According to insiders in the Department of Labor and Employment office for Region 10, at least 3 out of 10 licensed engineers and 2 out of 10 business administration graduates from Cagayan de Oro’s major universities and colleges have at one time or another been employed or are still employed with the Tablon Plant or in its other plants and offices in the country. This is a testament to the over 700 employed in the Tablon plant alone and to the brand’s number 1 status in the food service category. Aside from the Tablon plant Nestle also has two distribution facilities in Camaman-an and two sales and promotions offices in Bulua. It is the city’s third highest business taxpayer.
Del Monte Philippines, Inc.
Another of one of the oldest multi-national companies to open here in the city, Del Monte is the largest multi-national company to invest in the city. Everyone knows Del Monte as the manufacturer of world-class pineapple products and other fruit products as well as processed foods, beverage variants, mixed drinks, tomato based products, condiments, and pasta. Del Monte Philippines now actually operates the largest integrated pineapple operations and canning/processing/manufacturing plant in the world.
Aside from its plant in Bugo on the eastern side of the city, the company also operates 20,000 hectares for pineapple and other fruits in Bukidnon and Misamis Oriental, employing more than 4,000 people. All products manufactured in the plant are for local and export consumption. It even has its own international seaport, container yards, and the largest fruit receiving stations in the world. Del Monte is the city’s number 1 business taxpayer.
Limketkai Manufacturing Corporation
This is the umbrella company for the makers of the famous Marca Leon line of cooking oil products as well as margarine, soy sauce, and vinegar products. Its main manufacturing plant and head office are at Julio Pacana Street, Puntod. It also has two sales and marketing offices in Manila. This is actually the mother umbrella company for the city’s popular Limketkai Center and Shopping Mall. Long before the mall, this family cooking oil business was already a fixture in the city for the past 70 years. They are the first and only Philippine manufacturer of corn oil products. They are also the first to package its products with the new high density polyethylene containers, one of the safest types of plastic in the industry. The Limketkai group is the city’s number 3 real estate property taxpayer.
Liwayway Marketing Corporation
This little known manufacturing plant in Alwana, Cugman, on the city’s eastern side, goes by a more well-known name, Oishi. The plant manufactures the brand’s popular variants of salty snacks, breakfast cereals, popcorn, cookies, powdered juices, and sauces. The plant’s products are for local consumption and export to Japan, South Korea, and Hong Kong. The plant actually opened way back in 1993, but its presence is hardly felt, eclipsed by the larger multi-national presence in the city. However, its over 500 employees gives testament to Liwayway as a major employment player in the city.
Obviously another unfamiliar multi-national corporation in plain sight all over the city, and the city’s number 8 business taxpayer. They are into the retail, wholesale, manufacturing, and sales business in 5 of its major stores and plants in Cogon, Carmen, and along C.M. Recto Avenue. Unipace is the corporate name for this Cebu-based multi-national company carrying the Gaisano Group.
This is the city’s number 8 business taxpayer, carrying another unfamiliar acronym, but if spelled out, everyone would be familiar with the Philip Morris Fortune Tobacco Inc., with its manufacturing plant in Cugman on the eastern side of the city.
They are the makers of world famous tobacco and cigarette products.
Madison Shopping and Supervalue, Inc.
This is a subsidiary multi-national company that is under an even bigger umbrella multi-national company, the SM Group of Companies, and is responsible for running all SM Malls and Savemore Supermarkets all over the country. Not only is the SM City Mall and the three Savemore Supermarkets in the city into retail and wholesale, but they are also into heavy manufacturing and distribution. They are the city’s number 7 business taxpayer.
This lineup of multi-national companies alone investing in the city paints a really rich and progressive picture for the city’s economy for the present and future. As the city grows, these companies are sure to grow and expand as well, which spells good news not only for the local government but also for its people and those seeking good jobs.