CEBU CITY, Oct. 5 (PNA) — The Board of Investments (BOI) office in Cebu registered a total investment of Php5.5 billion for the first quarter of this year.
In the January-March quarter, the Department of Trade and Industry (DTI)-attached agency has listed projects such as renewable energy in Negros Oriental, cooling system in Cebu and hotel investment in Bohol.
Renewable energy is one of the investment priority areas, along with business process outsourcing, electronics industry and shipbuilding.
The projects in the first quarter have generated about 141 jobs for the local people.
Last year, mass housing developments, which created around 2,151 jobs, accounted for the big share of ventures recorded by BOI Cebu.
The nearly Php8 billion worth of BOI-registered projects in Central Visayas in 2013 produced a total employment of 3,382.
These real estate projects are mostly developed in Cebu and some are in Bohol and Negros Oriental.
In 2013, registered projects also included renewable energy, investment in the oil industry and agribusiness developments.
The BOI said the potential big market for housing projects and real estate developments is one big factor that has encouraged investors to invest in the booming property industry. (PNA)