Thursday, January 31, 2013

Investment in Zamboanga

The Department of Trade and Industry (DTI) has announced that the industry sectors have registered a total of P5.171 billion in incremental investments last year here in Zamboanga Peninsula.

Registering the biggest increment at 46 percent representing P2.38 billion of the total is the processed fish sector, according to DTI Zamboanga Peninsula Director Nazrullah Manzur.

"This is a result of the expansion of existing factories and the opening of new canneries, particularly in Zamboanga City," Manzur said.

The Regional Development Council (RDC) of which DTI is among the member-agencies has identified the processed fish sector as one of the priority industries for intensified development and promotion because of the region's inherent comparative advantage, Manzur said.

He said the second biggest contributor is the construction and construction materials (C/CM) sector which contributed 25 percent of the total investment take.

"Although not among the 12 industries prioritized for promotion, this sizeable investment in the C/CM sector is certainly a welcome development. This is a manifestation of the renewed confidence in real estate development in the region, mirroring the construction boom in Manila, Cebu and Davao, albeit at a much lesser pace," he said.

The other industry sectors which contributed to the total new investments are rubber, processed food, tourism, coconut, seaweeds, GDH (gifts, decors and housewares), and Information and Communication Technology (ICT), he said.

He said the city of Zamboanga continues to lead in investments generation, capturing more than half of the total at P3.317 billion, followed by Zamboanga del Norte at P882.38 million, Zamboanga del Sur at P751.652 million, Zamboanga Sibugay at P208.060 million and Isabela City at P12.42 million.

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