DAVAO ORIENTAL, November 24, 2014—Major investments on
infrastructure and tourism are set to boost economic development in the
province of Davao Oriental as the Provincial Government inked a Memorandum of
Understanding with investors of a private company Design Invest Develop (DID)
Groups Ltd. on Wednesday, November 19, 2014 at the Provincial Capitol.
Aligned with the Davao Oriental Reconstruction and Development
Framework 2013-2016, this potential investment is seen to help realize the
Building Back Better strategy of the provincial government to help spur
development inDavao Oriental, especially in the three typhoon-ravaged towns in
the east coast.
Governor Corazon N. Malanyaon, who strongly pushes for major
investments here in the province, said she is optimistic this potential
investment willhelp reshape Davao Orientaland transform it into a major
investment haven and premiere tourism destination in the region and even in the
country.
Carmelo Laburada, Head of the Provincial Center for Promotions on
Investments and Trade (CPOINT), said that this undertaking will involve a
Public-Private Partnership (PPP) on Public Infrastructure and Tourism
Development for which DID will bear the funding for the prospected projects.
He added that thispartnership would involve more than a billion
peso worth of investments, touted tohelp propel the local economy.
Among the major infrastructure investments the company wants to
put up are electric power generation, solid-waste management, wastewater
management, potable water supply, air transport capacity enhancement, and hotel
development.
The recent signing of the MOU allows both the company and the
provincial government to make necessary preparations and assessment to fully
satisfy the government’s requirement for a Public-Private Partnership (PPP) or
a joint venture to develop these infrastructure projects.
It also establishes a framework for collaboration between both
parties in order to determine the terms and conditions of business relations
towards achieving the development of public and private infrastructures.
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