Investments in Region 12 increase 72% in 2007
Koronadal City (13 February) -- Investments in Region 12 for 2007 reached P7.98 Billion with a hefty 72 percent increase from the previous year's P4.63 billion investments generation.
Trade & Industry 12 Director Ibrahim K. Guiamadel said the bulk of investments was generated by Board of Investments-registered/approved projects recording as much as P2.58 billion.
BOI-registered companies in the region were into processing of marine products and cold storage facilities account for the bigger investments. Other projects were in fruit/meat processing, mining, gifts and house wares, medical transcription and Information Technology (IT) Park. Most of these were located in General Santos City and South Cotabato.
For the BOI- registered firms, projects opened in South Cotabato reported the biggest investments aggregating P2.29 billion, followed by General Santos City with P277.40 million and Sarangani province with P15 million.
Domestic investment meanwhile was pegged at P5.38 billion pesos. Guiamadel noted that 52 percent of the total domestic investments generated is attributed to General Santos City accounting P2.80 Billion in investments. This was followed by North Cotabato with P889 Million (17%); Cotabato City with P614 Million (11%); South Cotabato with P455 Million (9%); Sultan Kudarat with P434 million (8%) and Sarangani with P182 Million.
A report to the Philippine Information Agency 12 by DTI 12 Business Development Division chief Nelly Nita N. Dillera stated that the presence of a BOI staff in the region helped expedite the evaluation and processing of projects not to mention the investment promotional activities undertaken.
Dillera said, projects under the domestic investments were generally food processing, production of gifts and house wares, IT companies, retail stores, restaurants, inns, service companies, among others.
Accordingly, a total of 31,814 jobs were also created as a result of the investments generated in the region. BOI registered firms generated a total of 1,667 employment while the rest is attributed to enterprises that registered their Business Names with the DTI; Business Matching activities, businesses opened or expanded because of loans facilitation, One Town One Product (OTOP) program.
"A 46 percent increase in the jobs created was noted in 2007 from its 2006 level of 21,781," Dillera also said. (DTI-12/ac agad PIA 12) [top]