Trade department-Davao posts P11-B investments in 2011

Saturday, January 14, 2012

THE Department of Trade and Industry (DTI) in Davao Region generated a total of P10.998 billion worth of investments from its programs in 2011, or an increase of four percent from the P9.950 billion posted by the government agency in the previous year.

DTI-Davao Region director Marizon S. Loreto, speaking at the weekly Kapihan sa PIA on Friday, attributed the growth of investments this year to investors' confidence in putting up their businesses in the region.

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Loreto also cited the initiatives of the DTI officials in enticing investors and the friendliness of the local government units (LGUs) as the contributing factors for the banner season.

"As a whole we have a business-friendly environment," Loreto said.

The top investments include Therma South Inc. for a coal-fired power plant, Southern Properties Corp. for the SM City Lanang, Filinvest Land Inc. and 8890 Housing Development Corp. for mass housing, Metro Davao Medical & RC for a tertiary hospital and BDA Holiday Prime Properties Inc. for Orchard Hills.

DTI-Davao Region also recorded some 34,221 jobs created in 2011, or 159 percent of the annual target and 143 percent higher than the 12,977 jobs generation performance in 2010.

Monitored domestic sales hit P790.11 million, or 105 percent of the 2011 target and 62 percent higher compared to the 2010 performance.

Earlier, DTI-Davao Region reported that its Export Pathways Program (EPP) generated US$53.83 million in export sales in 2011.

Based on the preliminary annual report of DTI-Davao Region, the revenue represented a 54 percent increase compared to the 2010 EPP performance. The figure is also higher by 67 percent of the agency's annual target.

"There are a lot of things that we can do here to further improve these figures," Loreto said.

Among the top sectors that experienced a good turnout of investment for the past year are real estate, business process outsourcing, and tourism-related businesses.

"Big ticket investments specifically within the Sta. Cruz and Digos City were considered investment and job generators for the province. These new projects, as well as other existing firms likewise contributed to the increased export sales as well as domestic sales," Loreto said.

Focusing on micro, small, medium enterprises development also plays an important role in the favorable result that DTI-Davao Region has achieved.