Finance Secretary and Investment Czar Frederick D. Go and the administration’s economic managers landed in Davao City on Monday with a clear message: the nation’s growth push is accelerating, and Davao City — together with the entire Davao Region — is stepping into a defining role in the Philippines’ next economic surge.
Speaking as keynote speaker at the Philippine Economic Briefing (PEB) in Davao City, Go highlighted Davao City’s strong economic performance and its strategic role as the economic center of Mindanao, linking businesses, workers, capital, and markets.
“Davao City is an important part of the Philippine growth story. It is the economic center of Mindanao. The region has been connecting business, employees, capital, and markets,” Go said.
Go also underscored Davao City’s growing contribution to the national economy, describing it as one of the country’s fastest-growing highly urbanized cities.
In 2024, Davao City recorded a 7.9% growth rate, ranking fifth among the country’s highly urbanized cities in terms of annual economic growth, behind Puerto Princesa, Iligan, Butuan, and Tacloban. It also ranked fifth among HUCs in terms of economic size and accounted for 2.6% of national GDP, with an economy valued at P574.72 billion.
“And Davao City is moving faster even faster forward,” Go said.
Go added that Davao Region recorded 5.1% growth in 2025, faster than the country’s 4.4% growth. Its Gross Regional Domestic Product (GRDP) reached P1.14 trillion at constant 2018 prices, marking the region’s third consecutive year as a trillion-peso economy.
He said the region remains the largest economy in Mindanao, the fifth-largest regional economy nationwide, and the fourth-fastest-growing regional economy in the country.
Aside from government economic managers, the PEB also brought together business leaders, investors, and other stakeholders to discuss the country’s economic outlook, reforms, and investment opportunities, particularly in infrastructure, agriculture, energy, manufacturing, tourism, logistics, and digital services.
The PEB also underscored the Marcos administration’s efforts to integrate Mindanao more firmly into the national economic and investment agenda.
Go said the government is working to ensure that economic growth translates into jobs, investments, and broader opportunities.
“The Department of Finance is committed to fiscal discipline and prudent spending,” he said.
He also noted the government’s push to cut inefficiencies and direct public funds toward high-impact, high-multiplier programs.
Go cited reforms intended to reduce costs and make it easier for businesses to operate and expand, including lower Securities and Exchange Commission registration fees, longer Bureau of Customs importer accreditation validity, and reduced Creditable Withholding Tax rates by the Bureau of Internal Revenue for local importers and manufacturers.
Go urged business leaders and industry partners to invest in Mindanao and help build globally competitive industries in the region.
“The next chapter of Philippine growth will be shaped in Mindanao. So let us make future industries happen here and in the Philippines,” he said.
He stressed that realizing Mindanao’s development potential would require closer cooperation among the government, the private sector, and development partners.
“The opportunities before Mindanao are immense and require our concerted efforts. Achieving our development goals calls for a whole-of-government approach and strong collaboration with the private sector and development partners. By working together, we can create the conditions for investments to flourish and ensure that the benefits of development reach more communities across Mindanao,” he said.
