It’s business as usual for the City Government of Davao as it find it hands full dealing with a surge in investments, ceasefire or no ceasefire.
“We are in the thick of action dealing with the influx of investment inquiries in Davao Region,” said Lemuel Ortonio, head of the Davao City Investment Promotion Center in a news conference on Thursday.
He said they have not received any reports on investors backing out as a result of President Duterte’s all-out war declaration against the communist rebels.
Ortonio said inquiries were pouring in mainly from Japan, China and South Korea.”Davao remains to stand tall as long as everyone is working hand in hand with the security sector,” he said.
He cited how Davao City and its people easily recovered from the Roxas night market blast that killed 15 people and injured 66 others last Sept. 2 and that several investors were “impressed” with how the city stood up after the tragic incident.
Meanwhile, Ortonio mentioned that the investment inquiries from foreign parties are in the areas of agribusiness, manufacturing, public-private partnership projects, infrastructure developments, tourism, recreational facilities, and Business Processing Outsourcing.
“We are helping these foreign parties with the requirements in case they are pushing through with their projects so we can convert these investment leads to actual investments,” he said.
Aside from DCIPC, he added that other agencies such as the Board of Investments and the Mindanao Development Authority are also working to help these investors.
Ortonio pointed out that the local government is focusing in the districts of Calinan, Paquibato, Marilog, and Baguio and that they have identified areas that are allowed for development.
He explained that it is in respect to the ancestral domain located in the four districts of the city.
“We have all reminded the investors and businessmen to respect the Indigenous People in the area,” he said.
Ortonio said that the investor interest in Mindanao has given investors a strong signal to invest in the region due to President Duterte’s pronouncement of amending the 60-40 constitutional prohibition on foreign ownership of businesses has boosted the interest of foreign investors.
He pointed out that a number of establishments might apply for accreditation with the Philippine Economic Zone Authority between 2015-2030.
However he reiterated that it is not an assurance yet whether some investors might push through as these are still investment inquiries.
