Davao Region registers P11.2B new investments

Subscribe Now December 08, 2014 at 08:53am

THE Department of Trade and Industry (DTI)-Davao reported that Davao Region registered a total of P11.19 billion in new investments from January to September this year

Based on the data gathered by the agency from the Board of Investments (BOI), these investments are mostly into real estate, cooling systems, manufacturing, transportation, and agriculture.

The bulk of these investments came from the two big ticket projects in transportation with a combined investment of P8.4 billion, the DTI said.

One is the P5.72 billion seaport and container yard of the Hijo International Port Services Inc. (HIPSI) in Tagum City, Davao del Norte that has a capacity of 858 ground slots of containerized cargo and 450,000 twenty-foot equivalent units (TEU) per year.

The other is the P2.65 billion Davao International Container Terminal (DICT) of the San Vicente Terminal and Brokerage Services Inc. in Panabo City that has a capacity of 400,000 40-foot equivalent unit (FEU) per year.

The second largest bulk of investments are in real estate with a combined investment of P1.24 billion. The company with the largest real estate investment is 8990 Housing Development with three projects at P901.38 million. The company's investment are the P521.73 million 1,341 units expansion of Deca Homes Resort Residences Phase 9 in Tugbok, Davao City; P234.65 million 544 unit Deca Homes Indangan Phase 1 in Buhangin, Davao City; and the P145 million 207 unit expansion of Deca Homes Resort Residences Phase 12 in Tugbok, Davao City.

Other real estate investments in the region are the P65.61 million housing development of Steward Home Development Corp. in Buhangin, Davao City; the P157 million 80-unit Wee Siu Yen Condominium of Kim Guan Realty Development Corporation in F. Bangoy St., Davao City; and the P116.21 million 188-unit Oakwood Residences of HLC Construction and Development Corporation in Panabo City.

The manufacturing industry takes the third biggest chunk of investments with P544.47 million. The largest investor is Franklin Baker Company of the Philippines with their P392.15-million investment for the production of coco water concentrate in Sta. Cruz, Davao del Sur. It will have a capacity to produce 3,072 metric tons of coco water concentrate.

Other manufacturing investments include the P124.95 million of Coco Davao Inc. for the production of coconut water concentrate for export at Sta. Cruz, Davao del Sur; P20.37 million of Duraboar Packaging Corporation for the production of multilayer kraft paper bags in Lanang, Davao City; and the P7 million of See's International Food Manufacturing Corporation for the production of banana chips for export at Mati City, Davao Oriental.

Other investments are into cooling systems and agriculture. The Philippine Integrated Energy Solutions has a P686.35 million investment on the operation of a district cooling system in Davao City while the Anflo Banana Corporation has a P347.01 million for the production of cavendish banana for export in Don Marcelino, Davao del Sur.

Data from DTI also showed that P8.49 billion or 76 percent of BOI registered investments from January to September are established in Davao del Norte. A total of P1.83 billion are in Davao City, P864.12 million in Davao del Sur, and P7 million in Davao Oriental.

There are no BOI registered investments in Compostela Valley but lawyer Lucky Siegfred M. Balleque, Compostella Valley DTI Provincial Office officer-in-charge, said they have recorded some P400 million worth of investments in the province that are not registered to BOI.

He said the bulk of investments are on tourism related investments while the rest are commercial establishments. Some of the investment destinations in the province include Nabunturan, Pantukan, Maco, and Mabini.

Source: sunstar.com.ph

« Seaweed industry expansion eyed in Davao Region Davao 10th in overall standing »