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PIA Press Release

DTI XI surpasses performance on business name registration

Davao City (3 October) -- The Department of Trade and Industry in Davao City as of September 2007 already surpassed its business name registration performance compared to the same period last year.

DTI Davao City director Teolulo Pasawa during the Davao Business Reports Forum held Tuesday at MediSpa of SM City Davao said that as of end September this year they were able to register some 4,810 new business names compared to only 4,530 in the same period of 2006.

Pasawa noted that the investment climate this year remains bright considering that many businesses are into expansion project.

"The fact that these businesses are into opening up of new branches is an indication that the business climate is favorable," he said.

He also said that the coming in of HEDCOR power project is in preparation of the coming in of new investments saying that the Department of Energy had made pronouncements that there must be sufficient power to prepare the area for the entry of new players in the industry.

"If new investments will come before 2010 there will be shortage of power," he said.

Pasawa mentioned that new projects in Davao city, aside from power would fall under wood, banana, coconut peat and fiber, cold storage, plastic recycling, feed mill, food processing and call center operations.

He also said that the mining industry is picking as there are already many mining exploration within the region especially in Compostela Valley Province.

He said that under their industry cluster approach, the big works are in mining as reported by the Bureau of Mines where current investments totaled to P449 million.

The wood sector also reported P70 million investments for two wood processing plants all located in Compostela Valley Province. (PIA XI/Prix D Banzon) [top]

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