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New investments in the Davao region under review by BOI

Davao City (23 June 2005) -- Investments in the Davao region amounting to P131 million which are now undergoing evaluation and review by the Board of Investments (BOI) will have to wait for the guidelines in the giving of incentives for 2005.
BOI head for Davao region Engr. Gil Dureza said the expansion project of the Philippine Japan Activated Carbon is the biggest with investment of over 100 million.

He said PJAC which came to Davao in the 70s had its first expansion in the 90s and will have its second round of expansion after more than 30 years of operation here.

But he said, the Japanese owner were a bit apprehensive with the latest policy on the giving of incentives because their product is classified as non-food agri.

Although agribusiness falls in the priority list of government, it is the food production and processing that were classified as top dollar earner, he said.

"We heard that those top dollar earner in the past will most likely be given full incentives," he said.
The other investments are that of KATSUOBUSHI with P10 million investments, a Japanese company which is expected to engage in the production of smoke fish and will be located in General Santos City.

The Owel Trading also in General Santos City with P2.5 million capital investment is contracted by Bounty Fresh in the milling of their food requirements for poultry.

The Hill Park Hotel in Midsayap, Cotabato for a 30-room hotel has an infused capital of P30 million.
The expansion of Jhaymarts Industries for the processing of two-meters pipes as culverts out of recycled plastics has an investment of P8 million.

Also in the list under review is the proposal of Critical Software Consultancy (CSC)with P500,000 infused capital under back office operation of the mother unit Somosite Inc. based in the US.

He said the installed program for ultrasound will be checked by CSC where the latter send the program back to its mother unit in the US for installation.

Dureza also said that there are programs in the pipe line even as he said that they expect no impact on the recent policies governing incentive package. (PIA/pdb)

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