12 Jul P14.7B Worth of Investments Approved in Mindanao For the First Five Months This Year
From January to May of this year 2016, the Board of Investment (BOI)-Mindanao was able to cap a total of P14.7 billion worth of investments from the approved 21 projects from different local and foreign corporations which generated 4,553 jobs. The figure is more than half of last year’s total investment of P26 billion.
“There is indeed hot and upbeat investment climate throughout Mindanao,” BOI-Davao Extension Office director Gil Dureza said adding that the new administration’s promise of providing stable peace and order, and better business climate for both foreign and local forms counted as a big factor.
It can be recalled that last month of June, investment leads in Mindanao reached almost P900 billion.
“The ambiance for investment now is really terrific, there is indeed hot and upbeat investment climate in Davao Region even throughout Mindanao,” Dureza said. “We haven’t experienced these high investments before,” he said adding that most of the investments have three-year time period.”
According to Dureza, the growing investment leads in Mindanao mostly come from foreign investors. The said investment leads are focused on manufacturing (P742 billion), power generation (P49 billion), Public-Private Partnership (PPP) Projects (P39 billion), resource-based agri (P33 billion), infrastructure (P3 billion), mass housing (P510 million) and Business Processing Outsourcing (BPO) (P160 million).
Dureza finally added that, “We want to take this rare opportunity to convert investment leads to actual investments that is why we are helping these prospective investors from A to Z requirements. We are working double, triple this time with the team composed BOI, Davao City Investment Promotions Center, Mindanao Development Authority, among other.”