BW FILE PHOTO
THE PROVINCE of Compostela Valley bagged P1.2 billion worth of investment pledges, surpassing its target to secure P500 million worth of business deals at the first De Oro Business and Investment Conference.
The investments come from 14 projects sealed between 10 proponents and 16 investors brought in by the business delegations from China, Indonesia and European countries, according to the provincial office’s statement on Monday.
The investment matching sessions were grouped according to the types of proposed projects: real estate, public infrastructure, agribusiness and tourism.
The biggest investment is China State Construction Engineering Group’s pledge of a P500 million property development.
This was followed by a P300 million business center; a P350.8 million bulk water system to be set up in the capital town of Nabunturan; a P114.5 million housing subdivision development in Compostela town; a P20 million farm tourism project in Monkayo; and rice processing facilities in Mawab, also worth P20 million.
The province said that prior to the business matching session, 40 investment project proposals were compiled. “With these planned developments, the town will become a more attractive business hub for retail, services, hospitality and allied sectors,” the statement said.
Held at the Beach Club At Lubi Plantation Island in Mabini town and hosted by Torre Lorenzo Development Corp., the De Oro Biz Icon gathered 150 local and foreign delegates and business representatives.
The first of its kind for Compostela Valley, the conference was held in conjunction with the province’s 21st foundation day when 11 municipalities were separated in 1998 from Davao Del Norte.
A bill that renames the province to Davao De Oro “to reflect its Davaoeño heritage and its gold mining industry” has been approved by Congress and is awaiting President Rodrigo R. Duterte’s signature. — Janina C. Lim