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PIA Press Release

NorMin DTI-monitored investments total P4.792B in 2Q 2007

by Rutchie Cabahug-Aguhob

Cagayan de Oro City (13 September) -- A regional total investment (RTI) of Php4.792 billion has been monitored in Northern Mindanao, during the 2nd quarter, this year.

"By source of investment, business name registration (BNR), one of the indicators for the new investments in the region, posted Php1.14 billion or 23.74% of the RTI," Regional Director Alica B. Eusena of the Dept. of Trade and Industry (DTI), region 10, said.

This was followed by banks, Php752.63 million or 15.70%, small and medium enterprises/one town-one product (SME/OTOP)/cluster projects, Php46.47 million or 0.97%%, and other multi-sources investments, Php2.86 billion or 59.59%.

She said by sector, the infrastructure and services posted the highest investment of Php2.271 billion or 47.40%, followed by agri-based, Php1.114 billion or 23.26%, trading, Php280.48 million or 5.85% and consumer manufacturing, Php216.21 million or 4.51%.

Servicing, Php182.58 million or 3.81%, metals, Php20.83 million or 0.43%, forest-based, Php1.30 million or 0.03%, mining & metallurgical, Php0.05 million or 0% and "others," Php704.87 million or 14.71%.

Eusena said among the region's provinces, Misamis Oriental had the highest RTI share of Php2.47 billion or 51% with most of the investments derived from infrastructure, trading and services sector.

These investments included the construction and expansion of restaurants, educational and medical service facilities, housing, subdivisions and real estate services and institutions.

Bukidnon came next with Php1.808 billion or 38% that mostly came from the agri-based sector which included the expansion of poultry and other farm products and Lanao del Norte, Php324.36 million or 7%, from the consumer and manufacturing, services and trading sectors that included the expansion of a feed mill plant, a commercial enterprise, construction and supply distribution centers and construction of cell site and gas refilling stations.

Again, Misamis Occidental's investments of Php126.22 million or 3% mostly came from the BNR in the agri-based and service sectors that included various SME/OTOP/cluster projects, hotel and sports facilities and construction services.

Likewise, Camiguin's investments of Php63.78 million or 1% were derived from banks, SME/OTOP/cluster projects and BNR of trading and trucking services and expansion of a charcoal factory. (PIA 10) [top]

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