BOI okays P37-B investments

The Board of Investments (BOI) has approved a total of P37 billion worth of investments from October to Dec. 16 under the simplified registration program, BOI managing head Elmer C. Hernandez reported yesterday.

In a press briefing, Hernandez reported that 51 projects have been approved under the simplified registration program of the BOI.

For the week, Dec. 12 to Dec. 16, Hernandez further disclosed, seven projects were approved under the simplified registration program with a total investment of P165 million.

Approved by the BOI were the projects of 8990 Housing Development Corp., International Academy for Film & Television Inc., Antex Fashion Corp., Cocodesign Inc., Supreme Aquamarine & Seafood Enterprise, Owel Trading Corp. and Alec Dodd Inc.

The application of 8990 Housing Development Corp. is for a P76 million mass housing project in Naga City which will employ 135 workers.

The International Academy for Film & Television Inc. applied its project as an information and communications technology support service worth P62.462 million.

Antex Fashion Corp. applied as a garments exporter with a project cost of P8.583 million.

Cocodesign Inc. applied as a manufacturer of products made of fiber glass reinforced plastic with a project cost of P7.569 million.

Its plant will be located in Carmona, Cavite and will provide employment for 120 workers.

Supreme Aquamarine & Seafood Enterprise applied its P5.064 million agribusiness project to be based in Milagros, Masbate.

Owel Trading is undertaking a P3-million feedmilling project in General Santos City.

The seventh project approved by the BOI under the simplified registration process is that of Alec Dodd Inc. worth P2.208 million which will engage in ICT enabled services.