Tsada! Cagayan de Oro: Enriching the Golden Heritage!

MISAMIS ORIENTAL gets 70% of Northern Mindanao's P14.983-B investments in 2Q

Misamis Oriental got the biggest share, Php10.457B or 69.79% of Northern Mindanao's Php14.983B, the total regional investments (TRI) during the 2nd quarter, this year.

"MisOr's investments for the period also posted a remarkable increase of 702% compared to the 2005 figure of Php1.303B due to the expansion activities coming in from the chemical-based, trading, infrastructure and services sectors," Regional Director Alicia V. Eusena of the Dept. of Trade and Industry (DTI), region 10, said.

She said about 90.33% (Php9.4B) of MisOr's investments from the chemical-based sector included the expansion of Pilipinas Kao, Inc. within the PHIVIDEC Industrial Estate-Mis.Or. (PIE-MO) of which Php3.7B was allocated to buy new equipments.

The trading sector, 5%, included the construction and expansion of the Robinson Department Store and Nissan Gallery, Cagayan de Oro (CDO) Branches, as well as, the appliances, drug stores and agricultural supply distribution centers while investments in the services sector included the construction and expansion of food chains and electronic distribution centers.

She said there are other projects on-going in CDO, namely: the Bulk Water Supply Project of the Cagayan de Oro Water District (COWD) and Blue Waters Corp. that will provide additional water supply of not less that 50,000 cubic meters per day, groundbreaking of the 20-hectare Php2B mixed-use project of Ayala Land, Inc. in Indahag, a 20-storey expansion of the Maxandria Hotel, a Filipino company venture on a gold mining exploration and San Miguel Corp.'s (SMC) acquisition of Del Monte Philippines.

On the other hand, Bukidnon's 27.69% share of the TRI (Php4.149B) which accounted for 96% of the total agri-based investments (ABI) of the region included the expansion of the Crystal Sugar Milling Corp. and a number of banana growers like Dole South Skyland, JIKKA Fruits Corp. and Pangantucan Banana Growers Asso.

Lanao del Norte's 1.30% share of the TRI (Php194.15M) included investments in real estate, appliances, lending facilities and supply distribution centers and expansion in transport and trading services while Misamis Occidental's 0.97% (Php145M) included activities in real estate, restaurants and appliance distribution centers, a Php9.251M Water System and Livelihood Assistance Program from the Philippine-Australia Community Assistance Program (PACAP).

Camiguin's share of 0.30% of the RTI (Php37M) were mostly ABIs comprising of bank releases, as well as tourism-based projects. Negotiations are currently undergoing to resolve the power shortage in the province through an LGU-National Transmission Co. (TRANSCO) tie-up for a Php510M, 69KBA submarine cable lines from Aplaya, Jasaan, Mis. Or. to Camiguin, Eusena also said.

Meanwhile, the comprehensive picture of the economy undoubtedly shows a nation on a roll and an enterprising people reaching for the limit in period of rapid political stability and consolidation.

"The local financial markets surged, buoyed by an upbeat economic outlook and falling oil prices with the peso climbing to a fresh 4-yer high of 50.48 against the US dollar at the close of the trading," Secretary Romulo Neri of the National Economic and Development Authority (NEDA), said.

Phase I of the economic plan of the Government has been achieved as evidenced by the sustained growth of the economy and its gains will propel the country in achieving the same result in Phase II or the restructuring of the Philippines into 5 super regions, Neri added.

Giga Go CDO!!!

Friday, October 06, 2006
Confabs in N. Mindanao rise to 40%
By Danilo V. Adorador III

MORE tourists are flocking to Northern Mindanao during the first quarter of this year, while conventions and seminars recorded a 40 percent rise--both boosting hotel occupancy rates.

Domestic tourists account for the largest chunk among all visitors to the region, while Cagayan de Oro, Gingoog and Misamis Oriental remain the most favored destination in all of Northern Mindanao, according to the comparative data for the first quarters of 2005 and 2006 released by the Department of Tourism (DOT)-Northern Mindanao.

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