Big-ticket investments set to boost economic development in DavOr

MOU SIGNING: Davao Oriental Governor Corazon N. Malanyaon (seated 3rd from left) signs the Memorandum of Understanding with Alvin D. Obersi (seated 2nd from left), Chairman and CEO of the DID Groups Ltd. Witness to the signing are Ruud Oudman, Chief Financial Partner of DID Group (far left) and Marciano Tapiador, Prov’l Consultant. Standing at the back are (from L to R) Ibrahim Obersi of DID; Cynthia Rodriguez, Prov’l Tourism Consultant; Dr, Santiago Enginco, Prov’l Consultant; Carmelo Laburada, CPOINT Head, and Fausto Carcabelos, Project Manager of DID

MOU SIGNING: Davao Oriental Governor Corazon N. Malanyaon (seated 3rd from left) signs the Memorandum of Understanding with Alvin D. Obersi (seated 2nd from left), Chairman and CEO of the DID Groups Ltd. Witness to the signing are Ruud Oudman, Chief Financial Partner of DID Group (far left) and Marciano Tapiador, Prov’l Consultant. Standing at the back are (from L to R) Ibrahim Obersi of DID; Cynthia Rodriguez, Prov’l Tourism Consultant; Dr, Santiago Enginco, Prov’l Consultant; Carmelo Laburada, CPOINT Head, and Fausto Carcabelos, Project Manager of DID

City of Mati, Davao Oriental—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 in Davao 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 will help reshape Davao Oriental and 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 this partnership would involve more than a billion peso worth of investments, touted to help 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.

The DID Groups Ltd. is an independently-owned corporation operating in the Dutch-Carribean islands. KLD, Photo by E.J. Licayan

 

 

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