Tuesday Jun, 18 2024 04:06:42 AM

Cotabato City welcomes P6-B investments in 2016

Economic News • 17:59 PM Wed Feb 24, 2016
2,737
By: 
Cotabato City news release

COTABATO CITY – More than PHP6
billion investments are expected this year in Cotabato City, the city mayor’s
office here said.

Aniceto Rasalan, secretary to Cotabato City Mayor
Japal Guiani Jr, said the several business companies and corporations have
signified their intention to pour in capital in the city.

Some of these corporations are expected to start
construction of establishments this year, Rasalan said.

One of the biggest investors that the city has
welcomed in 2016 was the CitiStores Corporation, the mother company of Koronadal
Commercial Center (KCC Malls).

KCC has already purchased a 5-hectare property along
Quezon Avenue with the demolition of existing structures are going on and mall
building construction to start in March.

Rasalan said CitiStores will put up a premier mall
similar to KCC-Veranza in General Santos City. Once the construction begins, it
is expected to be finished and open to the public within 18 months.

The KCC is the biggest so far that has come in to
Cotabato City. Their investment is worth more or less PHP6 billion,” Rasalan
said.

Meanwhile, the City Mall along Gov. Gutierrez Avenue
is expected to open during the final quarter of 2016.

Rasalan said aside from malls, negotiations are also
underway for the establishment of a couple of national food chains in the city.

Officials of food chains have visited the city
scouting for investment areas.

Two existing food chains, notable Chowking and
McDonalds are planning to expand their market and put up more branches here.

Rasalan attributed the business sectors’ confidence
to he efforts of Mayor Guiani who keep on arranging for business meetings with
known companies, inviting them to come to the city.

These new business investment will surely help
improved local economy, increase employment opportunities for Cotabatenios and
increase living standards of its people,” he said.

Aside from malls and food chains, Malaysian
investors are expected to pour in capital in the city following the established
partnership between Cotabato traders and Malaysian investors.

Malaysian traders are eyeing food production in the
city. The group also eyes investment in
surrounding areas for coconut, palm oil, pineapple, and banana, cattle raising and
poultry with the awaited opening of the Halal Slaughterhouse in the city.

Rasalan said with all of these developments,
Cotabato City is expected to have a rise in its population that will result to
heavier traffic flow in the main thoroughfares and a larger volume of waste
materials.

These are some of the issues that the City
Government is now addressing.

To address the accompanying social problems, Mayor
Guiani formed a Technical Working Group that will study on the best solutions
to traffic management.

6 dead, four hurt in General Santos City highway accident

COTABATO CITY - Five commuters, among them a 12-month-old child, and a tricycle driver died when the three-wheeled vehicle carrying them...

NDBC BIDA BALITA (June 17, 2024)

HEADLINES 1   P2.2 million na halaga ng shabu, nakumpiska ng PNP sa simultaneous operation nito sa Region 12 2   Sa North...

63 guns seized, confiscated during PRO-12 Sacleo

GEN. SANTOS CITY - A total of 62 operations were conducted that resulted in the arrest of 2 individuals and the confiscation of 63 assorted...

P2.2-M shabu seized during PRO-12 SACLEO

GEN. SANTOS CITY - The Police Regional Office 12, under the leadership of Regional Director Brig. Gen. Percival Augustus Placer has successfully...

Kagi Murad: Reflect on Eid al-Adha for stronger, unified Bangsamoro

COTABATO CITY – As Muslims celebrated Eid al-Adha on Sunday, Chief Minister Ahod Ebrahim called on the Bangsamoro community to reflect on the...