In 2014 BOI-Cebu registers over P9B investments in CV

CEBU, Philippines - The Board of Investments Cebu registered over P9 billion of investments in 2014, higher than P8 billion worth of registered projects in 2013, official data showed.

BOI, an attached agency of the trade department, said investment pledges registered last year for Central Visayas reached P9.31 billion, generating about 1,415 jobs.

The data obtained by The FREEMAN also indicated that investments in the last quarter of 2014 totaled P2.6 billion, up from P597.1 million in the third quarter and P589.3 million in the second quarter. The investment board also registered projects worth P5.5 billion in the first quarter last year.

BOI Cebu said bulk of these investments came from local companies, with mass housing developments taking the biggest share of the total pledges. Mass housing investments in 2014 amounted to P1.4 billion.

Registered projects last year also included agribusiness (P282.7 million), renewable and conventional power generation (P5.098 billion), electric vehicles (P94.5 million), green projects (830.2 million), hospital (P1.5 billion) and accommodation facility (P70 million).

These projects are built in Cebu, Bohol, Negros Oriental and Siquijor -- but most are in Cebu.

In 2013, mass housing projects also accounted the big share of ventures the BOI Cebu registered.

The booming prospects for the property industry have encouraged investors to venture into real estate development, BOI said.

It also projected more property investments this year.  (FREEMAN)