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The National Economic and Development Authority said
investments in the Northern Mindanao rose in the first quarter of
the year, mostly came from the infrastructure and services sectors.
In a statement, the NEDA said
investments in Northern Mindanao increased by 152 percent to P4.4
billion during the first three months of the year from P1.7 billion
in the same period last year.
The NEDA said that Bukidnon
contributed the biggest share at P2.7 billion, or 62 percent of the
region’s total investments.
“Most of these came from the
infrastructure and services sector which included the construction
of an additional facility for water distribution,” it said.
The agency said the second
largest share came from Misamis Oriental, which totaled P858
million, or 20 percent of total regional investments.
“Ecozone investments comprised
27 percent of the total provincial investments that include the
Pilipinas Kao expansion project and the construction of a freezing
and storage facility at the PHIVIDEC Industrial Estate,” the NEDA
said.
Meanwhile, metals, service and
trading sectors brought in the most number of investments in Lanao
del Norte, which comprised 15 percent of the total investments in
Region 10. These included the renovation of a furnace of a metal
company, construction and expansion of commercial enterprises,
resort facilities, construction and supply distribution centers,
cell site construction and gas refilling stations.
Misamis Occidental shared 2
percent, or P98 .8 million with the bulk of investments coming from
business name registrations in the trading and service sectors.
Investments were spent for resort facilities, forest-based
distribution centers, real estate and fishing and poultry farms.
Investments for Camiguin reached
P54 million. Agri-based, infrastructure and services sectors drew
investments for the province.
--Darwin G. Amojelar
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