Davao City sets new record in number of businesses, investments

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DAVAO CITY (MindaNews /28 January) — The city government has set a new record after it ended 2017 with more than 40,000 businesses and a total investment value of P270 billion, Mayor Sara Duterte said.

The city surpassed its 2016 record of 39,238 business establishments with total investment value worth P230.83 billion.

She made the announcement before 300 attendees of the 50th Annual Installation of Officers and Board of Trustees of the Davao City Chamber of Commerce and Industry (DCCCII) at the SMX Convention Center Davao on Friday.

Davao City’s skyline from Jack’s Ridge at Shrine Hills, Matina on September 9. 2017/ MIndaNews file photo by CAROLYN O. ARGUILLAS

The mayor said 2017 was an interesting time for the business community here which saw many ups and downs following the declaration of Martial Law in Mindanao on May 23

She assured business executives that the city remains safe, although she admitted that the city “took a temporary dip” after her father placed the whole of Mindanao under military rule and suspended the privilege of the writ of habeas corpus due to the Marawi siege.

She said the city attained the 2-million target in the number of tourist arrivals in 2017, higher compared with 1.86 million recorded in 2016.

“We kicked off the year with a thriving tourism industry, numerous business conferences scheduled, and increasing interest from foreign investors,” said the mayor.

She expressed hope the city’s business community would support the programs and projects aimed at helping attract more investments and further improve the economic viability of the city.

The city was awarded the 3rd Most Competitive City under Highly Urbanized Category by the National Competitiveness Council (NCC) based on the 2017 Cities and Municipalities Competitiveness Index (CMCI), an annual ranking of the local government units.

According to the NCC, the cities and municipalities are ranked on their competitiveness based on an overall competitiveness score, the sum of scores on three main pillars — economic dynamism, government efficiency and infrastructure.

Aside from the growing investments, the mayor also announced that the City Treasurer’s Office increased by 36% the revenue collections when it collected P1.2 billion in business renewals as of January 23.

“We thank you, the business community, for diligently paying your local taxes. We assure you that your city government will allocate these funds to more meaningful projects and programs for the development of the city,” she added.

Mayor Duterte is on her second term as mayor. She served as Vice Mayor to Mayor Rodrigo Duterte from 2007 to 2010; mayor from 2010 to 2013 with her father as vice mayor; and was elected mayor in 2016.

To make the city more enticing to potential investos, the mayor disclosed that the City Investment Promotion Center will meet with professional services firm Isla Lipana Co. Inc, the Philippine-member of the PricewaterhouseCoopers global network, to finalize the series of activities for the review the 2012 Davao City Investment Code.

Duterte asked the business sector to help in the review of the code because “your inputs will be valuable in ensuring that we identify the investments gaps and opportunities to keep up with the global trends.” (Antonio L. Colina IV / MindaNews)

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