Davao is safe for foreign investors: Chamber

The trade missions participated by Davao City’s business sector aimed to erase negative perceptions among foreign investors that the city is not safe for investments due to negative travel advisory and other negative factors issued to Mindanao which affected the city and neighboring areas in the region.

This year, Davao City Chamber of Commerce and Industry, Inc. (DCCCII) completed outbound and inbound business missions that resulted in series of negotiations that it hopes to land some deals.

DCCCII president Arturo Milan told Edge Davao through these trade missions they were able to introduce Davao City as ideal business and tourism destination.

“The missions also create awareness of the business and investment opportunities in Davao City as well as make the investors aware how safe Davao City is to foreign investors and tourists especially most of the countries we visited issued negative travel advisory to Mindanao including Davao City,” Milan added.  

In partnership with the Chinese Consular Office in Davao and Fujian Provincial Foreign Affairs Office, the chamber facilitated a four-day outbound trade mission through the Davao to Quanzhou and vice-versa direct international flight provided by Xiamen Airlines in May this year.

The Davao City and Jinjiang signed a sisterhood agreement last November 13, 2018 at Jinjiang, Fujian Province in China.

In the effort to further improve the bilateral trade relations of the Philippines and Singapore, a two-day trade mission to Singapore was also embarked in May this year wherein the Singapore Embassy deputy head of mission, Zhou Suli, expressed their interest in importing more commodities from Mindanao especially agri-produce. In response to this, the chamber has coordinated with Enterprise Singapore to conduct a 2-day trade mission to Singapore in order for Davao businessmen to personally meet with traders and grasp market conditions.

Last May 21 to 23, the City Government of Davao conducted an Investment and Tourism Roadshow in Seoul, South Korea wherein the chamber also participated in this roadshow to promote Davao City as a leading investment destination in the Philippines.

The Davao Chamber in cooperation with the Consulate General’s Office of Japan in Davao conducted a five-day trade mission to Tokyo, Hitachinaka, and Saitama Japan in November this year. This undertaking aims to encourage Japanese to do business in Davao, propose a direct flight from Davao to Japan and vice versa, and create more business opportunities between Davao City and Japan. 

Milan said it is still too early to tell whether these trade missions will result to actual investments in Davao City though two large investments have been put up by a Japanese company, Packwell, Inc. and Chinese company Double Davao Printing and Paper Packaging Corporation, both are located in the Anflo Industrial Estate (AIE) in Panabo and are scheduled to operate soon.

For inbound business missions, last August 1, 2019, the Singapore Embassy in the Philippines through the Enterprise Singapore conducted an Inbound Business Mission between Singapore Business Delegation and Philippine Agricultural Companies.

According to Milan, the primary objective of the inbound mission was to look and possibly source for agricultural products, mainly fruits and vegetables in the Davao Region for export to Singapore.

He also cited the Taiwan External Trade Development Council (TAITRA) together with Taiwan’s Bureau of Foreign Trade and in coordination with Davao Chamber that brought Taiwan Expo 2019 for the first time in Davao last November 8 to 9 at SMX Convention.

The Malaysia External Trade Development Corporation (MATRADE) in coordination with Davao Chamber of Commerce and Industry, organized a trade mission to Davao last November 19 and 20, 2019.

Apart from the business and trade missions that were initiated and organized, the chamber has actively promoted Davao investments through the chamber’s flagship business events.