|
Thursday, June 30, 2005
Mindanao investments up
DAVAO—The Mindanao Economic Development Council (Medco) reported that the total investments registered with the Board of Investments and Phividec Industrial Authority reached P1.07 billion in the first four months of the year, up 142 percent from P0.44 billion in the same period last year.
The 12 approved pro-jects are seen to create jobs for 1,094 workers.
“Equity infusions from foreign investors reached a 50-fold increase to P667 million from P13 million, while investments made by Filipino businessmen rose 11 percent to P406 million,” the report said.
The iron ore manufacturing sector got the biggest share of approved projects this year, at 49 percent, with the P520-million investment of the Japanese-owned Philippine Sinter Corp. located at Phividec in Villanueva, Misamis Oriental.
The agency said other capital-intensive projects approved early this year include the P200-million poultry farm venture of Mahar-lika Agro-Marine Ventures Corp. in Bukidnon and Davao City; the P125-million Philippine-Japan Active Carbon Corp.’s expansion project in Davao City; the P100-million semi-refined carrageenan project of Martsons Food Corp. in Davao City; and the P57-million cold storage plant of San Andres Fishing Industries Inc. in Tambler, General Santos City.
For the rest of the year, Medco predicted more investments, particularly in the information technology (IT) and mining sectors.
It cited the establishment of IT parks, particularly in Region 10, and China’s pledge of $950 million worth of investments in redeveloping the Nonoc mining project in Surigao del Norte.(Sun.Star Davao/Sunnex)
(June 30, 2005 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
