January-September period BOI records P14 billion worth of projects in Central Visayas

CEBU, Philippines — The Board of Investments registered 11 projects worth P14.02 billion in Central Visayas in the first nine months of 2018.

Nine projects were registered during the third quarter, totaling P2.55 billion, official data obtained by The FREEMAN showed.

BOI-registered projects are entitled to the government’s fiscal incentives.

Among the projects registered last quarter include Cebu Landmasters' mass housing developments in Naga City and San Fernando in Cebu, and Sibulan, Negros Oriental; Filinvest Land's housing project in Talisay City; and Community Developers and Construction Corp's mass housing in Cebu City.

The BOI also registered two renewable energy projects of HDJ Bayawan Agri-Venture Corp and ET Energy Island Corp in Bayawan City, Negros Oriental and Mandaue City, respectively.

Also among the registered projects include a new hospital of Allegiant Regional Care Hospitals Inc., in Lapu-Lapu City and an agribusiness project of Obi's Trading Room Inc., in Bantayan, Cebu.

The said projects were projected to create about 1,300 jobs.

Ellorence Cruz, head at BOI office in Cebu, had said the agency was expecting to register more mass housing projects in the second half of the year.

She said BOI was also seeing to register tourism-related businesses.

As of end 2017, Central Visayas was the fourth top investment destination in the country for 2017, according to BOI.

BOI data had showed a record P27.1 billion worth of BOI-approved investments in Central Visayas last year with 88.6 percent of the investment pledges located in Cebu.

The BOI, an attached agency of the Department of Trade and Industry, is the lead investment promotion agency mandated to facilitate foreign and local investments by providing fiscal and non-fiscal incentives such as tax holidays, duty-free importation of capital equipment, and employment of foreign nationals, among others.

Based on BOI's 2017-2022 Investment Priorities Plan (IPP), preferred investment areas include manufacturing including agri-processing; agriculture, fishery and forestry; strategic services; infrastructure and logistics including local government unit public-private partnerships; health care services including drug rehabilitation; mass housing; inclusive business models; environment and climate change; innovation drivers; and energy.