Investments in Davao Region have surged by more than 60 percent in 2016.
Citing data provided by the Davao office of the Board of Investments, the Department of Trade and Industry during its media interface on Tuesday at Pinnacle Hotel, Davao City, reported a total of P7,684.69 billion was invested in the region as of October 2016, higher than the 2015 total investment of P4,708.14 billion.
For sectoral breakdown, manufacturing comprised 38 percent of the total investments followed by transportation & storage at 31 percent, real estate activities at 13 percent, accommodation & food service activities at 7 percent; electricity, gas, steam & air conditioning supply at 7 percent; and agriculture, forestry & fishing at 4 percent.
For the regional breakdown, Davao City recorded the highest investment with P2,517.26 billion or 33 percent of the total investment followed by Davao del Sur with P2,244.17billion or 29 percent and Davao del Norte as third highest with P2,063.49 billion or 27 percent. The rest of the bulk comes from Compostella Valley, Davao Oriental and Davao Occidental respectively.
San Miguel Foods, Inc. (Davao del Sur) from the manufacturing cluster recorded the highest investment of P2,244.17 billion which generated 307 jobs followed by Davao International Container Terminal, Inc. (Davao del Norte) from transportation & storage cluster with P1,885.99billion, Damosa Land, Inc. (Davao City) of the real estate activities cluster with P596.59 million, FTC Group of Companies Corporation (Davao City) of the accommodation & food service activities cluster with P540.97 million, Euro Hydro Power (Asia) Holdings, Inc. (Compostela Valley) of the electricity, gas, steam & air conditioning supply cluster with P517.77 million, PNX Chelsea Shipping Corporation (Davao City) of transportation & storage cluster with P507.60 million, AVLB ASIA PACIFIC Conglomerate, Inc. (Davao City) of manufacturing cluster with P500.00 million, Grupo San Pedro Realty Corporation (Davao City) of real estate activities cluster with P372.10 million, Anflo Banana Corporation (Davao Oriental) of agriculture, forestry & fishing cluster with P342.00 million, and Cocohaus Corporation (Davao del Norte) of manufacturing cluster with P177.50 million of investments.
DTI-XI Regional Director Maria Belinda Q. Ambi CESO V pointed out the increase of investments dovetailed the entry of Duterte administration.
She explained that aside from the fact that the President comes from Davao City, the regional director said that the President Duterte’s socio-economic agenda has been a factor on the boost of investment particularly his agenda on inclusive growth and MSME prioritization.
Meanwhile, Asst. Regional Director Edwin O. Banquerigo said 2016 is “much better than 2015” because of the key projects launched in the region.
“Let’s think and move as one. Let’s raise one hand to help ourselves and one hand to help others,” stressed Banquerigo.
