Davao Oriental investments hit P593M in 2011

Wednesday, January 18, 2012

INVESTMENTS in Davao Oriental reached P593.36 million last year, or a whopping 64-percent increase from the P361 million generated in 2010.

The total investment was generated from the programs of the Department of Trade and Industry (DTI)-Davao Oriental office, which also registered US$2.975 million in export sales and P124.91 million in domestic sales.

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The export sales were generated mainly from the supply of cardava banana to Europe and coco coir and peat to China, Hongkong, Taiwan and Japan.

The domestic sales were generated from participation to trade fairs, market matching, pasalubong center and trade facilitation.

DTI-Davao Oriental provincial director Ma. Belenda Ambi also reported that a total of 1,866 jobs were created last year, a 111-percent accomplishment of their total target of 1,678.

The DTI office also assisted 313 new and existing micro, small, medium enterprises (SMEs) through provision of business development and other trade and industry services.

A total of 708 new business names were registered in Davao Oriental for the year.

The Davao Oriental Export Pathways Program (EPP) database, meanwhile, showed an increasing percentage of direct exporters from six in 2007 to 13 exporters by the end of 2011. These exporters contributed a total of US$4.158 million export sales in the last five years.