Chinatown eyed as economic zone

KEY players involved in the development of Davao City’s Chinatown are toying with the idea of having the city government declare the area as an economic zone.
Architect Daniel T. Lim of Kaisa Foundation, the implementing arm of the Chinatown Development Council of Davao, said the area could be a pilot project where income derived from it could be plowed back for its development.
He said the idea could increase the value of properties and Filipino-Chinese landowners would be encouraged to improve on structures and later on do high rise density structures.
But Lim said the improvement of Chinatown is not only in its physical structure and beautification, but also about drainage and other infrastructures that could be done underground as well as in socio-economic concerns.
Lawyer Irene Dango-Lavares, also of Kaisa Foundation, said there has to be a master plan for Chinatown that will be worked out with the city government.
She said this could be a contribution to the development of Davao City, considering that they too were benefiting from the place.
With such improvement, Lavares said, little by little other concepts will be introduced.
She said plowing back the revenue to the area could be a scheme that any city would think of because it now has the authority mandated in the local government code.
Lim said they could perhaps raise some funds for its initial development with the city government putting up a counterpart.
Among the businesses within Chinatown Davao are three hotels and another under construction, a soon to be finished 12-story hotel.
“Businesses in the area are mainly stores selling paints, hardwares, tire supplies, a few that retail China-made products and agricultural products like fertilizers and feeds. There are also big malls and fast food chains within the area,” he said. There is also undergoing construction a condominium and dormitories, the latter especially because
There are universities located either within the area or just a block away from Chinatown.
“These are signs that their presence is giving a positive image to Chinatown and a lot of people are positioning themselves to take advantage of the situation. A sure sign of confidence in the area,” he said.
Lim also pointed to the 30 banks within the Chinatown financial district, each one estimated to be operating on not less than P100 million capital. Right now, he said, there are about 4,000 residents in Davao City who are either Filipino-Chinese or those from mainland China who are engaged in economic activities.
Like other nationalities, Chinese businessmen from the mainland, Manila, Cebu and other places in the country were attracted to Davao City because of its prevailing good weather and rich opportunities.