Businesses in city up by 4.6% in Q1 2018

THE number of business establishments in Davao City in the first quarter of 2018 increased by 4.6 percent to 36,802 from around 35,200, according to data from the Davao City Investment and Promotions Center (DCIPC).

DCIPC head Lemuel Ortonio said 97 percent of these establishments are renewed businesses while about 3 percent are new businesses.

“This indicates that businesses that have already been operating in the city are still confident that their businesses will continue to grow. We are confident that by the end of the year, the city will surpass last year’s figure with more new businesses to open,” said Ortonio.

With the number of business establishments increasing for the first quarter of the year, the collection of mayor’s permit capitalization had increased as well. From its more than P2.57 million recorded mayor’s permit capitalization in the first quarter of 2017, this increased to P2.60 million by the first quarter of this year.

The same data also showed that the top business lines in the first quarter included retail, services, wholesale, manufacturing, and lending.

According to Davao City Chamber of Commerce and Industry, Inc. (DCCCII) president Arturo Milan, these increases can be attributed to the good business environment that prevails in the city. This, he said, encourages new businesses to open and for existing businesses to expand.

“I believe the growth trajectory will continue because of the attractiveness of Davao City to investment today both domestic and foreign being the third most competitive city in highly-urbanized cities in the country,” said Milan.

However, it is not only the business climate in Davao City that is improving. For the first quarter of 2018, there is a recorded 543,729 tourist arrivals in the city which is 18 percent higher than the arrival for the 1st quarter of 2017.

This increase, according to City Tourism Operations Office head Generose Tecson is attributed to the big events held in the city within the quarter such as the IronMan Triathlon and the 81st Araw ng Dabaw which were both held March of this year.