Central Visayas investments hit P4.9B

By Mia A. Aznar

Friday, September 7, 2012
SOME P4.9 billion worth of projects have been registered with the Board of Investments (BOI) Cebu extension office for the first half of the year.
These are expected to generate 1,059 jobs.

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The BOI Cebu extension office recorded 13 projects for the first semester, with an additional three approved last July and August amounting to P232 million. Eight of these projects are in Cebu, while Bohol and Siquijor have one project each. Three projects have been registered for Negros Oriental.
Four of these projects are for mass housing, four are for renewable energy, two for tourism, two for export and one is for bulk water supply.
Filinvest Land Inc. submitted a total project cost of P2.1 billion for its San Remo Oasis project, expected to generate 352 jobs. Its One Oasis Cebu project has a total project cost of P891 million, with an estimated 174 jobs available.
Quadriver Energy Corp. registered a renewable energy project for P1.4 billion in Bohol, while PNOC Renewables registered three renewable energy projects in Negros Oriental.
Housing, expansions
Mandaue Cebu Marine Products plans to produce fish fillet products and registered a project worth P86.2 million with an estimated 256 jobs available.
Last year, first quarter investments amounted to P2.1 billion and 534 jobs, while the second quarter yielded P4.02 billion in investments with 1,915 jobs. These included housing projects, hotel modernization, and expansion of iron and steel business.
For January to April 2012, Central Visayas was among the sixth top investment destinations in the country, the BOI said in a previous report. It received P2.19 billion in investment commitments.
Central Luzon was the top investment destination for that period, with P56.08 billion in approved projects. Region 4 and the National Capital Region rounded up the top three. Western Visayas (P16.37 billion) and Davao (P2.87 billion) preceded Cebu on the top investment destinations list.

Published in the Sun.Star Cebu newspaper on September 08, 2012.