Mindanao investments surge to record high
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The power generation sector got the biggest chunk of investment share with 2.663 billion pesos or 78 percent of the total investment value. Responsible for this notable increase is the putting up of the hydroelectric plant in Tamugan, Davao del Sur by HEDCor Tamugan Inc., a subsidiary of the Aboitiz Equity Ventures. Following the power sector is the exploration of chromite ore, sand and concentrates, which had a total value of 333.354 million peso sor 10 percent of the total investments.
The processed fruits and vegetables, processed meat and investments in cold storage facility each registered a 3 percent in investment share.
Two expansion projects of the Philippine Sinter Corporation involving the construction of a processing plant and the development of a power generation plant contributed largely to the increase in PHIVIDEC-registered investments. PHIVIDEC investments contributed to 1.169 billion pesos or 98 percent of the industrial estate’s total investment value.
“The impressive investment performance clearly shows that we are right on track in our efforts to fast track trade and investment promotions in Mindanao as indicated by the sharp increase in investment growth,” said Undersecretary Virgilio Leyretana, Medco chairman.
He said that he is optimistic that the growth will give a positive signal especially to foreign investors in Mindanao to pour in more investment projects in the island-region.
He also lauded the confidence shown by the local investors in putting up more projects in Mindanao, citing the contribution of the latter in Mindanao’s total investment performance for the region.
Aside from Philippine Sinter, another expansion project is the development of an agro-industrial complex by the Limketkai Manufacturing Corporation. The project is expected to generate 500 jobs. Rubenori Incorporated, a new investor in the industrial estate, will put up a facility on the recovery of recyclable materials which is pegged at around 25 million pesos. (Medco/davaotoday.com)
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Japanese-Filipino kids welcome new law on citizenship
October 1st, 2007 at 8:43 am
TO ALL
I know this to be out of place. Please bear with me. I just want to create awareness by choosing the busy forum or the latest.
Do consider Dr. Martin Bautista for the next elections obviously (a senatorial candidate of ‘Ang Kapatiran’ together with Adrian Sison and Zosimo Paredes). He’s a 45-year-old gastroenterologist in the US who came home after 17 years. You can see from his background that he truly means service. For those who find him to be a hypocrite for working abroad, do understand he’s a family man who needs to sustain his family, that he will be able to keep his independence by not relying on public funds to support his family. He helps his countrymen in his capacity but it’s just not enough for there are millions of Filipinos. It’s a good start in Philippine Politics to have him and his party around.
I urge you to forward/text/inform all your contacts about them. I believe they only lack exposure that’s why I’m doing this. But I can’t do it alone so I’m appealing to everyone’s help. If all will inform their contacts about them and urge them as well to forward, we might hit a million.
We cannot afford to be indifferent now if we want meaningful change. Otherwise we only have ourselves to blame. BUT TOGETHER WE CAN MAKE A DIFFERENCE.