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BOI CEBU APPROVES 23 NEW INVESTMENT PROJECTS.
CEBU CITY, Jan 2 Asia Pulse - The Cebu extension office of the Board of Investments (BOI) registered and approved 23 new projects valued at a total of P1.629 billion (US$32.8 million) this year.
This represents an increase of 179 percent in value over last year's 15 projects, BOI-Cebu Chief Investment officer Ernesto Pintac said.
He considered this an achievement considering that the entire country's registered investments with the BOI had plunged to their lowest level in 12 years because of the ongoing political crisis and a carry-over impact of the 1997 financial crisis.
Despite the slack in registered investments with the Cebu extension office during the last two quarters, the investment chief was hopeful that early surges in investments this year could create an impact on interested investors waiting on the sidelines for the political storm to blow over.
"The investors we've talked to are just waiting for the political storm to blow over before making the next move," said Pintac.
He said there were already signs of an early resolution of the political crisis which, he said, were beginning to have a positive impact on the market.
A total of six projects were ...
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Source: HighBeam Research, BOI CEBU APPROVES 23 NEW INVESTMENT PROJECTS.