The province of Compostela Valley netted P1.2 billion worth of investments, surpassing its P500-million target, in the De Oro Business and Investment Conference held in March at a resort in Mabini town.
Dubbed De Oro Biz Icon, the conference in March gathered 150 delegates headed by China Consul General Li Lin, Austria Honorary Consul Peter Faistauer and acting Indonesian Consul General Endah Rachmi Yuliarti, as well as local business players.
Following the plenary session where Compostela Valley Gov. Jayvee Tyrone Uy presented the business and investments opportunities in the province, an investment matching session grouped into real estate, public infrastructure, agribusiness and tourism clusters was conducted.
The investment matching successfully matched 10 proponents and 16 investors for 14 projects, including a P20-million commitment by SL Agritech Corp. for the rice processing expansion facilities proposed by the Mawab Cooperative.
Uy said that the pledges generated were made possible because the province had investment project proposals readily available for matching with prospective investors. He added that they have compiled over 40 proposals for the “De Oro Biz Icon,” and the province will use and update these for investment promotion initiatives in the future.
The first of its kind for Compostela Valley, the business conference was held in conjunction with the province’s 21st foundation day when 11 municipalities were separated in 1998 from its mother province, Davao del Norte. It will be rebranded Davao de Oro to reflect its Davaoeño heritage and its gold-mining industry.