Caraga eyeing P5-billion investments next year
October 20, 2009“This new development will surpass the 2009’s first semester investments of more than P1 billion,” said Region 13 office of he Department of Trade and Industry (DTI 13) Director Brielgo O. Pagaran.
Having mapped-out the strategies and identified the areas for interfacing with some of its partners, DTI 13 is hopeful that all mining companies, fisheries and agricultural sector will be fully operational next year and beyond.
It was gathered that there are about 62 mining companies operating in the various provinces of Agusan del Sur, Surigao del Norte, Agusan del Norte, Surigao del Sur and Dinagat Island Province and Surigao City.
Added to the burgeoning economic activities in the region next year is the $1.2 billion Sumitomo Co. and Zamora Group mining investments in Surigao del Norte.
Another factor that would generate more income and employment is the approval of the 300,000-hectares 12 Certificates of Ancestral Domain Titles; P100 million fish processing port in Barobo and Lianga; the P100 million investment of Stanfilco/Dole Philippines’ 100-hectare banana plantation in Tago, Surigao del Sur; and the 170,000-hectare agri-tree plantation of Shannalyn/Techlan Co. in Esperanza, Agusan del Sur.
The P200 million hydro power investments in Agusan del Norte with two ready for operation and five are on process of coal power plants in the areas of Bislig City and Hinatuan and Lianga in Surigao del Sur province also added to the unstoppable economic activities in 2010 in Northeastern Mindanao region.
Aside of local and national tax and revenues, at least 5,000 workers also benefited from these big companies now in the position for full takeoff, said Pagaran.
“Investments might double next year,” said Pagaran.
The expansion of palm oil plantation is also seen in Agusan del Sur and Agusan del Norte next year.
He said that all concerned agencies of the government and stakeholders, especially the local government units must work hard to help the region realize its potentials.
The region’s trade and industry chief said the Philippine Mining Act or Republic Act 7942 have added to the continuing mining activities in the region. (Manila Bulletin)
