P1.5B investments poured in Leyte town

Wednesday, December 1, 2010

BAYBAY, Leyte -- Some P1.5 billion investments have been poured here after the Local and Regional Economic Development (LRED) was introduced to the local government unit.

Baybay Tourism and Investment Officer Josephine Duterte said the LRED, which was part of the Private Sector Promotion Program of the Department of Trade and Industry (DTI) and the German Technical Cooperation (GTZ), was introduced in Baybay in 2005 when the municipality was identified as one of the poorest localities in Leyte.

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"Aside from the P1.5 billion worth of investments, the improvement of our local business climate through LRED has directly created around 1,000 jobs," Duterte said.

Duterte said at least four companies have settled in Baybay, contributing to the local economy.

"One of them is SC Global Coco Products Inc., which buys 250 metric tons (MT) of coconut and 30 MT of banana to produce coconut oil, banana chips and animal feeds daily. More than 1,230 farmers have been certified for organic production and they now supply SC Global with their farm produce," Duterte said.

She also said that DTI and GTZ helped the participants of the LRED process to develop an action plan.

"One of the major initiatives was the creation of the Baybay Tourism and Investment Promotion Office (BTIPO) that systematized the dissemination of investment-related information in Baybay and strengthened interaction among local business, local administration and supporting institutions," she said.

The BTIPO also published brochures presenting Baybay town as an ideal place for business and investment.

Duterte said she also gives personal advice and arranges meetings with local government officials.

"Constant communication has established an atmosphere of mutual trust and support, which has improved the local business climate brought companies closer to the local community," Duterte said.

She added the process of implementing LRED was not always easy as both local officials and the private sector have lessons to learn in their pursuit of a common goal.

"Participative processes are being adopted. The private sector was also invited to voice their concerns and offer advice in the local government unit's legislative processes to make policy work for businesses," she said. (Leyte Samar Daily Express)