Investors keen on the agriculture sector of Eastern Visayas
Philippine Board of Investments (BOI) said that big businesses are seriously considering investing in Eastern Visayas’ agriculture sector as well as water transport services, particularly the Catbalogan to Cebu route.
The investors expressed this during the series of investment promotion activities conducted by BOI in Region 8 aimed at promoting the economic opportunities under the 2017 to 2019 Investment Priorities Plan (IPP).
Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said the expression of strong interest from big enterprises is a concrete proof of the continued confidence of investors in the country’s economy.
As of now, incentives are given to projects located in any of the identified municipalities of the Less Developed Areas (LDAs) in Region 8. These areas include: Allen, Biri, Capul, Lapinig, Mapanas, Rosario, San Antonio, San Jose, San Vicente, and Victoria (Northern Samar); Almagro, Basey, Daram, Jiabong, Marabut, Matuguinao, Pagsanghan, San Sebastian, Santa Rita, Santo Niño, Tagapul-an, Talalora, Villareal and Zumarraga (Samar).
Out of the P617 billion total BOI-approved investments in 2017, investments located in Region 8 amounted to P754 million.
These investment projects are in the areas of tourism, agri-business and mass housing projects.
Some of the notable projects in Region 8 for the past five years are: Sulu Electric Power and Light (Phils.), Inc. (renewable energy); Philippine Green Resources, Inc. (coco coir and coco pit production); Robinsons Land Corp. (tourism); Communities-Leyte, Inc. (mass housing); Chen Yi Agriventures, Inc. (agribusiness).