Davao Icon attracts more investors

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Friday, August 19, 2011


INVESTMENT commitments in Davao City reached a total P11.87 billion as announced by the Department of Industry (DTI) and Davao City Chamber of Commerce and Industry Inc. (DCCCII) at the opening of the 1st Davao Investment Conference (Davao Icon) at Marco Polo Hotel on Friday.

"This is a manifestation that investment in Davao has revved up to provide improvement to the lives of the Dabawenyos. The City Government is very supportive in the development of policies as the city is now considered one of the investment destinations in the country," Dr. Maria Lourdes Monteverde, president of DCCCII, said in her welcome address.

Guests, including local and foreign investors as well as representatives from the local government unit (LGUs), were in attendance.

DTI-Davao Director Marizon Loreto was present along with City Tourism and Investment and Promotions Office acting officer in charge Jason Magnaye.

The project type and cost included real estate (condominiums) amounting to P2 billion, agribusiness (banana) at $44 million, water taxi for P6.7 million and Solar Energy Project for P7 billion.

Sebastian Angliongto, Davao Icon conference chair and honorary life chair of DCCCII, said these new investments are expected to improve lives of Dabawenyos and will ensure stability and security for the region as well.

"1st Davao Icon is our link to bigger conference that will define our short-medium-long term development goal that will be able set policies that will maximize these opportunities in our city," Angliongto added.

The two-day conference has enlisted different speakers from the private and public sectors to talk about investment opportunities in Davao.

"We would like you all to get most out of the Davao Icon as this would help us meet and exceed international expectations and make Davao City an international hub for the country," Monteverde added.

Published in the Sun.Star Davao newspaper on August 20, 2011.

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