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PIA Press Release
Saturday, January 14, 2012

 

DavSur earns P1B from investments in 2011

by Carina L. Cayon

DAVAO CITY, Jan. 14 (PIA) -- The downpour of investments was noted good in 2011 for Davao del Sur, bringing in over P1.2 billion worth of various businesses that rose in the province.

Provincial director Engr. Edwin Banquerigo of the Department of Trade and Industry reported this, saying the accomplishment in investments last year exceeded DTI’s targets by ten percent.

During yesterday’s Kapihan sa PIA, Banquerigo attributed the success to the various innovative projects and to the strategies focusing on generating bottomline outcomes as undertaken by the provincial office of DTI.

“Big ticket investments specifically within the Sta. Cruz and Digos City were considered investment and job generators for the province,” he said.

From the investments last year, he said that a total of 3,466 jobs were provided to the residents of Davao del Sur. In 2010, the employment generated reached to 1,108, he added.

Banquerigo also reported a bullish performance of the export industry that earned a total of US$16.542 million, marking an increase of about 145 percent compared to 2010’s US$11.372 million.

The export sales largely came from the earnings of the coconut coir products which met high demands abroad for textile production, he stated.

Aside from the coco coir, Davao del Sur also exports other agricultural products such as 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 been providing earnings to the export industry in the province.

DTI’s accomplishment report of 2011 stated that the xylose plant operation has generated approximately 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 the domestic sales, DTI-Davao del Sur reported an accomplishment of over P242 million from the new and existing businesses.

Banquerigo said that DTI has provided various interventions and special projects to develop and increase business confidence of the micro, small and medium entrepreneurs in the province.

He said that his office has assisted a total of 1,794 MSMEs last year, noting an increase of more than 400 percent from 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.

Banquerigo attributed this achievement to DTI-Davao del Sur’s massive consumer education campaign, which resulted to consumer empowerment, saying that traders are now more vigilant of the FTL. (PIA-11/Carina L. Cayon)

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