Saturday, February 02, 2008 DTI: New investments in Davao up by 44% By Joy Romares-Sevilla
THE regional office of the Department of Trade and Industry (DTI) reported that new investments in Davao Region increased by 44 percent in 2007 as compared to the figures posted in 2006.
DTI-Southern Mindanao Assistant Secretary Merly M. Cruz, in her presentation during the 40th Installation of Officers and Board of Trustees of the Davao City Chamber of Commerce and Industry Inc. (DCCCII) Thursday night at the Davao Convention and Trade Center, said investments recorded in 2007 is the highest in the last five years.
She said total investments in the region last year were pegged at P9.182 billion as compared to the P6.362 billion in 2006.
Cruz said these new investments generated a total of 46,416 jobs.
As to national performance, Cruz said there was a robust performance of trade, agriculture and fishery, private services, and construction last year.
The export performance in the national level also went up by 4.76 percent despite the dollar depreciation.
"Top markets are still absorbed by US with 17 percent and Japan with 14 percent. China and Hong Kong exports are also expanding," she said.
Cruz, on the other hand, presented the department's policy directions for this year, which include the development of countryside through the super regions; increase infrastructure spending; increase export competitiveness to capture a bigger share in the international trade; improve labor competitiveness and productivity; develop micro, small and medium enterprises; and make reforms for good governance.
