Tag Archives: investment

INDAY SARA LURES FOREIGN INVESTORS TO MINDANAO

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Sara invites BIMP-EAGA-Japan to explore Mindanao, Davao

 March 25, 2021

DAVAO CITY – Mayor Sara Z. Duterte has invited Japanese investors to have a closer look at this city and the entire Mindanao as possible investment destinations.In a video message during the Brunei Darussalam Indonesia Malaysia Philippines-East Asean Growth Area (BIMP-EAGA)-Japan Investment… Read More

MALACANANG, NCIP OKAY US$5.9 billion Sagittarius Mining Inc. (SMI) gold-copper project

NCIP issues permission for gold, copper extraction in South Cotabato community

The National Commission on Indigenous Peoples, or NCIP, issued on September 19 a “Certification Precondition,” or CP, to the Sagittarius Mining Inc., or SMI, the developer of the Tampakan project in the borders of South Cotabato, Sultan Kudarat and Davao del Sur. READ MORE

Also Read: MGB: Tampakan mine to go in full swing soon

OP restores ECC for $5.9-B Tampakan project

Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano said that OP already restored the Environmental Compliance Certificate (ECC) of the $5.9-billion Tampakan copper-gold mining project of Sagittarius Mines Inc. (SMI), which could become one of the largest copper mines in the world. READ MORE

DUTERTE TWITS ADVISORIES VS. TRAVEL IN MINDANAO

Presence of foreign visitors shows ‘all is well in Mindanao’
By Lilian C. Mellejor

DAVAO CITY, Oct. 23 (PNA) — Mayor Rodrigo Duterte on Thursday criticized foreign travel advisories issued against traveling to Mindanao, Davao City in particular, for lack of sufficient basis as he urged participants of the 2nd BIMP-EAGA–IMT GT Trade Fair and Business Leaders Conference to draw their conclusions on the real situation of the city.

Duterte exulted the holding of the business conference in the city, saying the presence of foreign and local visitors sends a strong message internationally and nationally that “all is well in Mindanao,” Duterte said.

“This conference and trade fair proved that issuance of travel advisories lack sufficient basis,” Duterte pointed out, voicing his displeasure on censuring Mindanao from foreign sources in relation to peace and order.

Duterte delivered a short but strongly-worded welcome speech before some more or less 1,000 foreign and local delegates during the opening of the four-day 2nd Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) and the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) conference held at SMX Convention Center Davao Thursday morning.

The BIMP-EAGA–IMT GT is a subregional cooperation initiative mainly to promote socioeconomic development in selected subnational focal areas in ASEAN.

It also promotes and facilitates intra-and inter-regional trade and investment, especially in the agriculture and agro-industrial sectors, and tourism through increased cross-border business linkages, improved physical and institutional connectivity, sustainable environmental management, and strong institutional linkages.

The mayor urged participants to visit Davao City and draw conclusions only after they have experience what Davao is.

“There is law, there is order,” he said. The line drew applause from the participants. He went on by inviting them to savor the hospitality of the city.

“Move around. Do not confine yourselves in the barracks. There is time to work…time to play…time for sightseeing…time to say hi…time to say goodbye…time for everything,” he added.

Duterte said the business conference and trade fair is also a good “time to make friends, renew acquaintance and enjoy each other’s company”. (PNA)

Investor eyes reclamation of Sta- Ana-Times Beach foreshore in Davao City

BY ROGER M. BALANZA

A foreign investor has proposed to the Davao City government a reclamation project covering foreshore areas that run from the Sta. Ana Wharf in the Sta. Ana business district to Times Beach in Matina Aplaya.

p6 (2)The multi-billion peso project – that could involve hundreds of hectares of reclaimed foreshore area — is among three big-ticket proposals that would convert Davao City’s beachfronts into a veritable goldmine of commercial establishments standing on premium lands recovered from sea.
With spaces for buildings becoming scarce in the downtown business districts, the reclamation project could provide more elbow rooms for new business.

isidro undabCity Mayor Rodrigo Duterte said he has tasked Davao City Third District Rep. Isidro Ungab to discuss the project with President Benigno Aquino. Ungab has the ears of the President, said Duterte. Ungab is the chair of the powerful House of Representatives Committee on Appropriations.

Big-ticket projects

 Davao City Investment and Promotion Center (DCIPC) officer Ivan Cortez said the proposal would be studied along with two other similar projects that zeroed in on the 9-hectare portion of the 123-hectare coastal village of Isla Verde, where a massive fire gutted down more than 2,000 houses early this year.
As City Hall grappled with the tragedy of relocating the displaced homeless urban poor fire victims or assist them in rebuilding their homes in the burned area, a Malaysian investor offered to develop Isla Verde into a commercial area with housing amenities for the fire victims.

 Ready with millions

 Another investor had offered a similar proposal on Isla Verde, said Cortez in a media forum.
Cortez did not, however, identify the investors.
But in an earlier edition of his weekly television program Gikan sa Masa Para sa Masa, Mayor Duterte revealed a Malaysian investor that he also did not identify wanted to develop Isla Verde into a commercial venture.
 The three investors are willing to pour billions of pesos into the project, Cortez said in the Kapehan sa Dabaw media forum.

Public-Private Partnership

The Sta. Ana – Times Beach reclamation project if pushed through could be implemented under the government’s Public-Private Partnership (PPP) program where a local government enters into partnership with an investor who finances a development project without cost to the local government.
In a reclamation project, the local government gets a share from recovered lands or from proceeds if the lands are sold.
Duterte also earlier said any development project in the 123-hectare Isla Verde needs presidential approval, the area having been declared a habitation area in a proclamation issued by  former President Joseph Estrada.
He said Isla Verde must first be reclassified as a commercial area before investors could come in.
 In subsequent interviews, Duterte said he had tasked Third District Rep. Isidro Ungab to carry a letter to President Benigno Aquino about the local government’s plan to reclassify Isla Verde into a commercial area.

The land is for the poor

Duterte raising to Malacanang the issue of the reclamation project and conversion of Isla Verde into a commercial area, is a reversial of an earlier position.
Duterte earlier said he is taking the side of the homeless against an offer by a Malaysian investor to develop the coastal village razed to the ground by the massive fire in April.
        Duterte has ordered victims of the fire that displaced more than 2,000 families to build their new homes on the spot where their houses stood before the fire that swept through three coastal barangays in Quezon Boulevard.
        This despite the proposal of a Malaysian investor which proposed to reclaim the area for a P3 billion property development project.
        In the project, the Malaysian investor would develop the property abutting the 50-hectare Chinatown into a commercial area.

People’s Park

        This would have been the second time that Duterte junked a proposal to convert a premium city government property into a veritable goldmine by selling to investors.
        In the early 90s, Duterte also turned away a billion-peso offer by a big name Manila property developer to buy the 8-hectare Tomas Monteverde Sports Center (aka PTA Stadium).
        The prime property at the heart of downtown is now the P500 million People’s Park, a public park that has become one of the city’s major tourist attractions.
        Other than prioritizing the area for the homeless urban poor victims, Duterte’s hands are also tied by two presidential proclamations that frowned on selling the property to investors.
Presidential Proclamation 85 of former President Estrada and Proclamation 2114 of former President Ferdinand E. Marcos, declared the area as human settlement and parks and playground area.
Duterte then said the proclamations needed to be amended if the area is to be utilized for other purposes.
The city government has approved P60 million for land development and rehabilitation and assistance to the victims of the worst fire to hit the city in decades.

BUSINESS BEAT: ‘Most competitive cities’ to boost Mindanao economy

joanna-balanzaMindanao’s investment climate was expected to gain headway with the inclusion of several Mindanao cities in the list of ‘most competitive cities.”

The National Competitiveness Council (NCC) in its 2014 Cities and Municipalities Competitiveness Index (CMCI) survey has listed Cagayan de Oro City and Davao City as among the country’s most competitive cities.

Other local government units (municipalities) in Mindanao that landed in the list are Nabunturan in Compostella Valley, Isulan in Sultan Kudarat, Polomolok in South Cotabato and Manolo Fortich in Bukidnon.

“This recent ranking will definitely provide a favorable investment outlook for the entire Mindanao,” said Undersecretary Janet Lopoz, Mindanao Development Authority (Minda) executive director, in a report in the Davao City daily Edge Davao.

Lopoz said results of the survey show that investors are not only bullish about Mindanao, but sees the island-region becoming a crucial investment option in their radar screens.

She also pointed out that the recent ranking is a testament of the transformation and development of the island in recent years.

“Our vision for Mindanao is to transform the island-region into a dynamic economy that is enjoying inclusive, balanced, and sustained growth in the next 20 years.

MORE INFRAS

Davao City and General Santos City need more infrastructure to become transshipment hubs in the East Asean Growth Area (Eaga), said Department of Trade and Industry (DTI) Sec. Gregory Domingo.

Due to their strategic location, Davao City and General Santos City have the  potential to become a transshipment hub in the Eaga sub-region, covering trades to and from Northeast Indonesia, East Malaysia, Brunei, and West New Guinea including China, Japan, Korea, Taiwan and Vietnam,” said Domingo in his speech at the  National Micro, Small, and Medium Enterprises (MSMEs) Summit in Davao City.

But Domingo said that there is a need to pour in more investments in infrastructure like improving port facilities.

Investors’ Guide

The Davao City Investment Promotion Center (DCIPC) will establish an advisory center to guide new investors, said its chief Ivan Cortez.

DCIPC is collaborating with the  Department of Trade and Industry (DTI) 11 on the project, he said.

P14.7-B investments

The Bureau of Investments (BOI)-Davao Extension Office has registered 13 new investments worth P14.7 billion from January to June this year.

The investments were spread out in  Davao Region, Agusan del Norte, Surigao City, North Cotabato, and South Cotabato.

Investment areas include transportation and storage, real estate, agriculture, electricity, manufacturing, food processing, renewable energy, and tourism facilities.

ICT gab

The 6th Summit of National ICT Confederation of the Philippines (NICP) will be held in Davao City on October 24, 2014 at the SMX Convention Center Davao at SM Lanang Premier, said NICP chair Wit Holganza.

Holganza said this year’s summit will be staged alongside with the 2014 Brunei -Indonesia-Malaysia-Philippines/ East Asean Growth Area (BIMP-Eaga) and Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Trade Fair and Business Leaders’ Conference on October 23 to 26, 2014.

She said the summit will be attended by about 400 delegates from ICT councils in the Philippines and member-countries of the BIMP-Eaga.

Davao City workforce not ready for BPOs

THE DURIAN POST

The Information Communication Technology Davao Industry Development (ICT-Davao) said there are many locators for Business Process Outsourcing (BPO) spaces in the city, but there are no takers in terms of interested applicants either for call center jobs or other needs of knowledge workers.

call center 5By first quarter of 2016, there would be about 30,000 additional spaces but there are doubts if Davao City’s workforce will be able to cope with the growing demand for IT-BPO talents.

Some 9,000 BPO jobs are available by 2016, said ICT-Davao.

ICT-Davao chairman lawyer Samuel Matunog said the region produces at least 20,000 graduates every year or 50,000 to include graduates from other regions that flock to the city to seek jobs.

But, we are not graduating employable workers, Matunog said. He is referring to English language proficiency, other technical competencies that would fill up IT application services like Gaming, finance, among others.

Matunog said that…

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P554M solar energy project tops second quarter investment

A P554 million solar energy project by NV Vogt Solar Energy One Inc. in Surallah, South Cotabato is the biggest investment registered during the second quarter of 2014 by the Bureau of Investments (BOI)-Davao Extension Office, said agency head Gil Dureza.

 Dureza said registered investment from five investors totaled P729 million during the period, said Dureza in a report in Davao City-based SunStar Davao.

Dureza enumerated the other investors as Coco Davao Inc. in Sta Cruz, Davao del Sur for export coconut water concentrate (P125 million); See’s International Food Manufacturing Corp. for exportable banana chips in Mati City, Davao Oriental  (P7 million); North Cotabato, Treelife Coco Sugar for the production of coco sugar (P17.79 million); and Clybros Merchandising Inc. in a tourism facility in  Surigao City (P25 million).

First quarter investments registered through BOI-Davao reached P13.94 billion, said Dureza.