Home » Top Stories » Businesses pour P214-B capital in Davao City in 2015

Businesses pour P214-B capital in Davao City in 2015

by: January 4, 2016 4:11 pm Category: Top Stories A+ / A-

DAVAO CITY (MindaNews/04 January) – Capital infusion in Davao City reached P214.095 billion from January to November 2015, relatively higher than the P211 billion recorded for the whole year of 2014, an official said.

Speaking in Monday’s Kapehan sa Dabaw at SM City, Davao City Investment Promotion Center officer-in-charge Ivan Chin Cortez said the increase can be attributed to the entry of Business Process Outsourcing companies and the 7-Eleven chain of convenience stores.

Based on the records of the City’s Business Bureau, the city issued 34,711 mayor permits, at least 4,880 of which were for new businesses.

The survival rate, however, dropped from 92 percent in 2014 to 88.19 percent in 2015.

Cortez cited that another reason for the city’s growth was the rosy outlook for the real estate industry, which he said will continue in the next three years.

He said he does not see saturation yet for real estate because the companies are building more not to cater to local residents but those who are planning to transfer to the city.

“Properties are built for people who are being invited to enjoy Davao,” he said.

The top property developers in the city are Filinvest, AyalaLand, Robinsons, DMCI-UPDI, and Megaworld, according to Jones Lang LaSalle Philippines Inc. (JLL).

JLL is a financial and professional services firm specializing in commercial real estate services and investment management.

Cortez said the city should welcome more investors in the manufacturing industry as it promises to deliver more stable economic activities that will further the city’s growth.

Based on the Department of Labor and Employment’s JobsFit 2015, the manufacturing industry in the region has high demand for finance staff, accounting staff, sales personnel/marketing staff, machine operators, and production workers/machine/forklift operators while the hard-to-fill jobs include chemists, finance analysts/ accountants, programmers, web designers, and machinists.

The report cited a shortage of industrial engineers, experienced engineers, ceramics engineers, materials planning and inventory control analyst, logistics coordinator while there is a surplus for accountants, fresh graduates of IT, computer engineers, and computer services.

Cortez added there many companies have expressed interest in manufacturing but that they should first aqcuire a certification from the Philippine Economic Zone Authority (PEZA).

He said the possible areas in the city that can be developed into PEZA-accredited industrial zones are Sirawan in Toril and the northern part of Bunawan.

He said a multinational company that manufactures plastic toys is eyeing to locate in the city.

Only five percent of the 34,711 businesses that registered last year are manufacturing companies. (Antonio L. Colina IV/MindaNews)

Businesses pour P214-B capital in Davao City in 2015 Reviewed by on . DAVAO CITY (MindaNews/04 January) – Capital infusion in Davao City reached P214.095 billion from January to November 2015, relatively higher than the P211 billi DAVAO CITY (MindaNews/04 January) – Capital infusion in Davao City reached P214.095 billion from January to November 2015, relatively higher than the P211 billi Rating: