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PIA Press Release
Monday, January 16, 2012

 

Comval overshoots investment target

by Rudolph Ian G. Alama

DAVAO CITY, Jan. 16 (PIA) -– The Compostela Valley Province overshot its investment target for 2011 by a whopping 159%.

Faustino Diabordo, Officer-in-Charge of Department of Trade and Industry Compostela Valley office bared that the province registered P516-million worth of investments in 2011. The DTI has pegged an investment target of P400-million.

Diabordo said that investments came from the bananas, mining, palm oil and rubber. He said that the banana industry posted more investments than mining, although if the small-scale mining investments were counted in then mining would rank first in capital investments.

Currently, the agency is advocating responsible mining particularly during the aftermath of the January 5 landslide which killed more than 30 people in a small-scale mining area in Pantukan town of the province.

Diabordo said that the Department is urging small-scale miners to follow strictly the no-habitation policy.

Meanwhile DTI Comval is focusing on the development of the silver jewelry industry, which is the provincial OTOP (One Town One Product). He cited that silver is plentiful in the province as it is widely ignored because of gold’s high prices.

The DTI is currently honing local jewellers in Comval while silver-craft MSME (Micro, Small and Medium Scale Enterprises) are joining in trade fairs.

DTI is also urging the local government to assign people to their investment promotions office so as to assist prospective investors and businessmen. (PIA-11/RG Alama)

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