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DAVAO
CITY—The Davao region received P9.18 billion in
investments last year, the biggest of which were poured
into generation of hydroelectric power and into
processing of iron and steel.
The
investment figure is almost half, or 44 percent, higher
compared with the 2006 figure of P6.36 billion.
As of
November last year, at least 10 companies registered
with the Board of Investments Davao, of which the
Aboitiz-owned Hedcor in Davao City put up its biggest
venture in generating hydroelectric power in the
northern part of the city.
The
Hedcor spent P3.68 billion for the project.
The Iron
and Steel company came next, investing P200 million in
expanding its iron- and steel-processing operation here.
The
Fresh Max Banana company poured P70 million in banana
operation, while Microtel, a member of the Microtel
group of hotels and other companies, and the San Vicente
Cold Storage, each shelled out P40 million for their
respective information technology and cold storage
facilities.
Macondray Plastics allocated P35 million to its
recycling operation, and Four Seasons Fruit Corp. spent
P22.57 million for its banana-chips business.
The
other investors included MTC Medical Transcription, with
a P10-million capitalization on its
medical-transcription training center; Wooho Phils.,
Davao, with P5.95-million investment on its knock-down
palettes; and Yoo Chang Co Ltd., with a P2.71-million
capital on processing and exporting coconut fiber and
peat.
The
regional Department of Trade and Industry (DTI) here
said the figures were culled from the
January-to-November reports, and yet the level of
investment was already 56 percent over its target for
the entire year.
The
investments also added 46,416 new jobs, an increase of
18 percent from the previous year’s 39,000 jobs.
“We
really are enjoying a robust economy here in Davao
Region,” said DTI Assistant Secretary Merly M. Cruz.
Moreover, she added, the National Economic Research and
Business Assistance Center in Davao (Nerbac Davao)
reported that Davao-based Sagrex Corp. shipped out last
year 500 kilograms of microwavable bananas on June 16,
and another 20 metric tons in October 30.
The
shipment was a result of a 14-member delegation for a
trade and investment mission to the Kingdom of Saudi
Arabia (KSA) in March last year.
The
five-month trade mission was backed by the Mindanao
Economic and Development Council, Mindanao Business
Council, Davao City Chamber of Commerce and Industry
Inc. and the Autonomous Region in Muslim Mindanao.
The
Nerbac is the investment arm of the DTI.
The
Maharlika Agro-Marine Ventures, which launched its
Virtual Poultry Farming project during the mission, had
encouraged overseas Filipino workers based in KSA to
invest and own some of the 49 percent of the aggregate
equity of the company’s Coronon Poultry Farm in Davao
del Sur.
The DTI,
meantime, also reported that the Mindanao Pearl Center
and YY Sea International, both based in Zamboanga City,
generated P2.5 million worth of orders for bangles and
Mikimoto pearl and P12 million of bottled sardines,
respectively. |
