DavSur earned P1.2 B of investments in 2011

INVESTMENTS worth P1.2 billion were poured into Davao del Sur last year.
The investments inflow came in the form of various kinds of business, according to
Provincial Director Edwin Banquerigo of the Department of Trade and Industry.
PD Banquerigo reported that investments in 2011 exceeded DTI’s targets by 10 percent.
In last week’s Kapihan sa PIA forum, Banquerigo attributed the success to the “innovative projects and strategies focusing on generating bottomline outcomes” undertaken by the  DTI provincial office.
“Big ticket investments within the Sta. Cruz and Digos City area were considered investment and job generators for the province,” he said.
From the investments last year, he said, a total of 3,466 jobs were provided to residents of Davao del Sur compared to only 1,108 in 2010.
Banquerigo also reported the performance of the export industry that earned a total of US$16.542 million compared to 2010’s US$11.372 million.
Export sales largely came from earnings of coconut coir products which met high demands abroad for textile production.
Aside from coco coir, Davao del Sur also exports other agricultural products like banana chips and mangoes.
The xylose product, a sweetener extracted from coconut shells and generated from the CJ-Toyota Tsusho Xylose Plant in Sta. Cruz, has also begun earning from the export of the product.
DTI’s accomplishment report of 2011 stated that the xylose plant operation generated more than US$24 million in export sales since 2010.
The company has also provided US$1.5 million in workers compensation that covers 200 employees, the report said.
In domestic sales, DTI-Davao del Sur reported earnings of over P242 million from both new and existing businesses.
Banquerigo said DTI has provided various interventions and special projects to develop and increase business confidence of micro, small and medium entrepreneurs in the province.
He said his office assisted a total of 1,794 MSMEs last year compared to the 414 assisted MSMEs in 2010.
The DTI official also mentioned a100 percent compliance to the fair trade and industry laws (FTL) among business operators in Davao del Sur attributed to DTI-Davao del Sur’s massive consumer education campaign, which resulted to consumer empowerment, with traders now more vigilant of the FTL. [PIA-11/CARINA L. CAYON]