Investments in DavNor grow by almost P20M in 2014

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DAVAO CITY(MindaNews/25 January) – Investments in Davao del Norte in 2014 reached P8.494 billion last year or P19.652 million more than the 2013 figure, according to data from the Board of Investments (BOI) of the Department of Trade and Industry (DTI).

“Bulk or 76% of BOI registered investments are established in Davao del Norte,” Maria Belenda Q. Ambi, officer-in-charge of DTI XI, said.

As of September last year, BOI XI reported that Davao del Norte was followed by Davao City with P1.831 billion worth of projects, Davao del Sur with P864.121 million and Davao Oriental with P7 million.

Compostela Valley registered no fresh investment in 2014, BOI XI said.

The board granted fiscal incentives to three big ticket investments in Davao del Norte last year.

Data from BOI XI showed that Hijo International Port Services Inc. is pouring in P5.724 billion for the establishment of seaport and container yard in Tagum City that can accommodate 450,000 20-footer equivalent units (TEUs) a year.

The other investor, San Vicente Terminal and Brokerage Services, a unit of Anflocor Group of Companies, has set up the P2.653-billion Davao International Container Terminal in Panabo City. The terminal has a capacity of 400,000 TEUs per year.

Data from BOI XI added that the HLC Construction and Development Corp. allocated P116.210 million for the establishment of Oakwood Residences in Panabo.

Apart from the projects recorded by BOI XI, Romeo L. Castañaga, provincial director of DTI-Davao del Norte said the local government of Tagum City granted Robinsons Land Corp. fiscal incentives in December last year.

The company, Castañaga said, will invest P2.7 billion for the construction of the mall which would start operations by the end of the year.

“It is the first project that the local government of Tagum City granted with fiscal incentives,” he said

The local government passed its Investment Incentive Code early last year.

Under the code a company may avail of exemption and discounts on the business tax, real property tax, fees and charges for the building permit and mayor’s permit within the first five years of operations. (MindaNews)

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