Zamboanga Peninsula draws P2-B investments leads – BOI

By THEPHILBIZNEWS STAFF

Good news for business in the Zamboanga Peninsula! No less than P2 billion has been generated from 22 investments leads from the conduct of Investment Priorities Plan (IPP) Roadshows held recently in the seat of Western Mindanao.

This was revealed over the weekend by the Board of Investments (BOI), citing its Domestic Investment Promotions Services (DIPS) in Cagayan de Oro for having reaped good results from the May 28-31 IPP Roadshows.

“Around 180 participants attended the roadshow spread across several locations in the region covering Zamboanga City, Zamboanga del Sur, Zamboanga del Norte and Zamboanga Sibugay,” the BOI Cagayan de Oro Extension Office said in a statement sent to THEPHILBIZNEWS.

It said that out of the province wide roadshows, Dipolog yielded the most number of leads – seven and the biggest amount P1.4 billion, followed by Pagadian with P281 million from four projects. Zamboanga Sibugay contributed P175.5 million from five projects and Zamboanga City generated P90 million worth of investments, the statement added.

From the 22 investment leads generated, six were identified as micro and small enterprise (MSE) projects. Tourism make up 51 percent, while 24 percent are agri-based. The rest are in creative knowledge, energy-related and manufacturing sector. Once these leads are realized, 1,267 jobs will be generated.

Engr. Jamir Omar A. Abubakar, DTI Zamboanga del Sur provincial director, lauded the BOI for bringing the roadshows to all the provinces of Zamboanga Peninsula.

It was learned that discussions during the roadshows focused on the 2017-2019 IPP and the registration process of projects with the BOI.

Abubakar said this effectively communicates investment opportunities and information on fiscal and non-fiscal incentive to local businessmen.

The end-result of these is helping small businesses link up with and become contributors to the attainment of the national development agenda.