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PIA Press Release
2007/10/03

BOI Mindanao optimistic to meet its target with 10% increase

by Prix D Banzon

Davao City (3 October) -- The Board of Investment Mindanao extension office is optimistic it will attain its P4.2 billion target for the year with an increase of 10 percent investments.

BOI chief Gil Dureza during the Davao Business Reporters Forum held at the MediSpa of SM City Davao attributed the projected increase to investments leads already in the pipeline.

He explained that projects in the pipeline are those completing minor requirements before it submits the project for registration at the BOI.

Identifying seven approved projects as of October 1, 2007 with total investments of P3.9 billion he said HEDCOR power project in Calinan, Davao City is the biggest with infuse investment of P3.680 billion.

The Citra Mina project on food processing comes next with P167 million for its expansion all over Mindanao.

The other investments include the Four Seasons Company/Banana Chips Export in Tagum City with P35 million, ECA Resources Cold Storage in General Santos city of P15 million, Ten Point Fishing/Deep Sea Fishing also in General Santos City, P61 million, the Woo Hoo Wood Pallet Export in Davao City and Yoo Chang Corp/Coco Peat and Fiber in Davao del Sur both have P7 million investments.

Nine projects with registration on process amounted to P491 million while the investment leads of 10 projects totaled P17.4 million.

Dureza said with the line up projects they are confident that in the remaining three more months of the year their performance could be at par with that of 2006. (PIA XI) [top]

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