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PIA Press Release

Davao Sur exceeds investment target in 2009 by 47%

Digos City (4 February) -- The Department of Trade and Industry (DTI) revealed that the province did well in investments last year since it surpassed its annual target by 47 percent.

Based on the report of DTI-Davao del Sur, total investments recorded in 2009 hit P518.46 million, way above its target of P352 million.

The top 10 enlisted investors are into agricultural production such as banana and coffee, general merchandise, oil depot, livestock-raising, wall panel production, and real estate development among others.

DTI-Davao del Sur Provincial Director Engr. Edwin O. Banquerigo attributed partly the positive performance to the various activities that the department is doing in partnership with the provincial and local government units particularly its Investment Promotion Office. Private and public sector participation played a crucial role in Investment promotion.

"We've been intensively conducting activities like investment and financing facilitation, investment promotion such as the Davao del Sur Investment Forum and Goat Industry Forum, among others. These activities have really helped us in positioning the entire province as an investment destination," he said.

Banquerigo also boasted about the reduced processing time in their business name registration (BNR). He said that for 2008, the average processing time was one day while for 2009, the processing time is only pegged at 20 minutes per BNR application.

A teller-type BN registration has been adopted by the office since the start of the second semester last year. This, according to Banquerigo, was the reason for the improved processing time.

"For 2008 until the early part of 2009, it took us an average of one day to process and release a single BN certificate. With the new system adopted, BN certificates are immediately released to the clients within 20 minutes, provided that there are no interruptions in the internet connection," he said.

Banquerigo vows to continue to undertake proactive investments promotion activities for the province and support further the LGUs in the Business Permit and Licensing System. eBPLS is now being piloted in four LGUs in the province. NERBAC Davao del Sur, a single window for investment facilitation and trade, is targeted to be established this year to serve as the focal point in investment promotion and facilitation. (dti11/jmm) [top]

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