Thursday, July 18, 2019

Davao Region records P14.8-B investments

(SunStar Davao file photo)

AROUND P14.8 billion worth of investments were pledged in Davao Region in 2018 based on the records of the Board of Investments (BOI) Davao Region.

In its accomplishment report, the Department of Trade and Industry in Davao Region (DTI 11) said the bulk of the amount, or P14.14 billion, will go to Davao City while P687.47 million will go to Davao del Norte.

A total of 15 projects were proposed in six sectors.

Water supply and sewage water management recorded the highest investment in the region which amounted to around P13.3 billion. Real estate activities amounted to P665.30 million. Human health and social science amounted to around P376.5 million.

Agriculture, forestry, and fishing investments amounted to P326 million. Administrative and support services amounted to P121.25 million while accommodation and food services investments were at P14.8 million.

“If we look into the complete list of BOI registered investments, actually there are 15 investments. There are investments also from the province of Compostela Valley (Comval), however, there is no official project cost mentioned by BOI,” DTI planning officer Marilou Magtrayo said.

Out of the 15 projects, four are agriculture-related projects in Compostela Valley (ComVal).

The DTI also reported that it has continued to conduct Business and Local Investment Networking Knowledge (BLINK) Capability Building Workshop for the 35 investment promotion officers in the region so as to identify key investment strategies for each province. In this way, each province can get a chance to match their business opportunities with future investors.

Meanwhile, DTI assistant regional director Edwin O. Banquerigo urged the business community in Davao to strengthen and increase promotion activities in the region.

“We need to show investors through our services that indeed, Davao is a good place to invest (in),” Banquerigo said.


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