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Mindanao gets P3.1-B investments

[ Manila Bulletin Online ] July 24, 2008

BOI: 12 new firms create 2,000 jobs

DAVAO CITY — Mindanao investment generation kicked off strongly this year with a total of P3.1 billion worth of BOI-registered investments recorded in the first quarter, surpassing the P747- million mark for the same period in 2007, data from the Board of Investments showed.

These new investments came from 12 newly registered firms in Mindanao which generated almost 2,000 jobs.

The newly registered firms, some of which started operations in January, include Liberty Land Corp., Philippine Sinter Corp. and Pilmico Foods Corp. in Region 10, Bioenergy 8 Corp., Bongreen Corp., Far East Seafood Inc., International Pipe Industries Corp. and Nanoscript Inc. in Region 11, Mommy Gina Tuna Resources Inc. in Region 12, Caraga Oil Refining Inc. and Krominco Inc. in Region 13 and Pacifica Agro Industrial Corp. in regions 9 and 12.

Majority of these investments were poured in Region 10 amounting to P1.83 billion worth of three major investments in power generation, real estate and animal feed production. Region 12 came in second with a record of P557.9 million in investments mostly from marine products.

Around P1.03 billion came from Philippine Sinter Corp. which is investing in power generation located at the Phividec Industrial Estate in Misamis Oriental and this comprises the bulk of Mindanao’s total investments during the first three months of the year.

Liberty Land Corp., a real estate developer, is expanding its mass housing project in Cagayan de Oro registering P139.38 million in investments, while Pilmico Foods, which is due to start commercial operations in Iligan this month, has poured in P660 million investments for animal feed production.

Bioenergy 8 Corp., the first biodiesel production facility in Mindanao located in Sasa, Davao City started its pre-development stage in January this year. The plant is expected to enhance access to biodiesel supply in the region.

Nanoscript Inc., an ICT-based company engaging in medical transcription training under the MTC Academy has also started operations in Davao City early this year.

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