DTI-Davao investment promo generates P9.4B investments-A A +A
Friday, February 15, 2013
THE investment promotion and financing facilitation initiatives of the Department of Trade and Industry (DTI) in Davao Region bolstered its investment generation in 2012.
The preliminary annual report of the agency revealed that these interventions pushed the investments to hit P9.455 billion, 13 percent higher than its annual target of P8.4 billion.
The financing facilitation services rendered by DTI-Davao Region brought in P43.826 million investments, generated through approved loans and grants for income-generating projects of 141 firms throughout the region.
Meanwhile, business consultancy services through the Board of Investments (BOI), City and Provincial Investments Promotion Centers, and five offices of the National Economic Research and Business Assistance Center (Nerbac) generated total investments of P4.815 billion, including the top 10 investments last year.
Last year’s top 10 investments include the Southcrest Hotel Ventures, Incorporated (Kukum Davao), 8990 Housing Development Corporation (mass housing), Filinvest Land Inc. (mass housing), two different projects of Communities Davao Inc. (mass housing), Lorenzo Shipping Corp. (container shipping), DMC-Urban Property Developers Inc. (mass housing), SM Hotels and Convention Corp. (Park Inn Hotel), Igloo Supply Chain Philippines Inc. (cold storage facility), and Franklin Baker Company, Philippines (processing plant for coconut specialty products.
DTI-Davao Regional Director Marizon S. Loreto said that for this year, DTI, with the help of BOI, its investment arm, and the investment promotion centers of all local government units, is keen on cornering more investments.
“We will further strengthen our investment promotion so that we can entice more investors to locate here. We all know for a fact that investments bring jobs,” she said. (PR)
Published in the Sun.Star Davao newspaper on February 16, 2013.