by Roldan Gorgonio
The records of the Davao City Investment and Promotion Center (DCIPC) and Department of Trade and Industry (DTI) show that there is an upward trend of investments in the city quantifiable in terms of billions of pesos from 2009 to 2011.
DCIPC chief Jason C. Magnaye said in an interview that since the start of 2011, investments in property development posted P2.67 Billion with the entry of SM City Lanang as this year’s biggest investor so far after Ayala Land’s Abreeza Mall. With this high mark, it has essentially surpassed last year’s aggregate amount in property development investment which also surged to P2.4 Billion.
Magnaye pointed out that the objective of Mayor Sara Duterte during her term is to be more aggressive about marketing Davao City in both local and foreign investors.
“Soon, we will see videos of Davao played in cinemas in Manila and other areas, in between of screening schedules. We will be coming out with print ads and TV commercials in AXN and Starworld, but it’s not going to be expensive knowing our very limited budget. We will find out ways to maximize our exposures as our way of marketing the city”, he said.
With the conclusion of the 1st Davao Investment Conference, Magnaye said that government and business leaders have expressed confidence about Public-Private Partnership (PPP) like the undertaking of Sta. Ana Wharf project, possible opening of regional expressway, operation of sanitary landfill and solid waste management. He said that aside from SEAIR, Tiger Airways would start ferrying in passengers of Davao on the first week of November this year.
According to Magnaye more investment opportunities will soon come to Davao as the government and business leaders were determined to forge sisterhood ties with Clark Pampanga Freeport Zone. He said, With the agreement to push through, Davao City is expected to get an overspill of passengers from Clark which is serving more than 5,000 international flights a year from at least eight international destinations.
Investment commitments in Davao City pegged to P11.87 billion as announced by the DTI and Davao City Chamber of Commerce and Industry, Inc. during the Davao Icon.
The project type and cost included real estate (condominiums) amounting to P2 billion, agribusiness (banana) at $44 million, water taxi for P6.7 million and Solar Energy Project for P7 billion.
Based on the records of the city’s Business Bureau, some P185 million in total investments was recorded in 2010 higher than P180 million in 2009 or an increase of 2.82 percent.
In terms of building permit issuances, the city was able to rake in P7. 3 Billion in 2010 from P7 Billion in 2009. Interestingly, the Business Name Registration with the Department of Trade and Industry has posted around P2.9 billion last year compared to 1.3 billion in 2009 propelling the city to a greater height to have hit an outstanding increase of 128 percent .
Foreign Trade as measured in Million US Dollars would indicate that imports got an increase of 41.21 percent from US $504.99 million in 2009 to US $ 713.10 million in 2010. Getting straight from the records of the Bureau of Customs in Region XI, the city’s export got an all-time high of US $ 1.2 Billion a year ago from the US $ 959 Million in 2009.
In terms of financial institutions officially archived at the city’s Business Bureau Office, business establishments which secured permits placed an increase of 5.85 percent in 2010 with Savings and Loan Associations to land in the number one spot having dramatically increased to 158 percent in terms of business permit applications approved.
Business establishments registration with the Business Bureau Office got a 14.5 percent increase posting some P184.7 Billion in capitalization as compared to P 180 Billion in 2009. This resulted to a remarkable 48 percent increase in the number of job generations from 124,633 to 183,930 last year. Expectedly, Poblacion District is still on top with around 10,504 registered business establishments having a capitalization of P 107 Billion which generated for itself 46, 938 jobs. It is followed by Talomo District with 6,625 and thirdly, Buhangin District with 4,289 registered businesses.
Davao City has also been shown to have a comfortable spot in the tourism industry living up to this time its reputation as the most preferred destination area in southern Philippines since 1997, taking its toll from the renown leadership of then Mayor Rodrigo R. Duterte giving Davao a blueprint and a roadmap for development. Records of the Department of Tourism in the region posted an estimated amount of P21.01 Billion in economic benefits from around 682,821 tourists who visited the city last year. These tourists comprised of foreign, balikbayan, and local or domestic.
