Investment boom benefits neighboring towns: exec-A A +A
Wednesday, March 26, 2014
SOME neighboring cities and towns have benefited from the investment boom in Davao City, a trade official said.
Department of Trade and Industry (DTI)-Davao Acting Director Ma. Belenda Ambi, who was a guest in Tuesday's Davao Business Forum at Dermpath, SM City Davao, in coordination with San Miguel Pure Foods Inc., said some towns and cities like Panabo City and the municipality of Sta. Cruz have been experiencing an increase in the number of investments.
"Their proximity to Davao City makes them an attractive destination for some investors," she said.
Ambi said most of the investors going to these areas are investing on the existing resources, mostly are prime agricultural products.
For example, investors going to Davao Oriental would invest in the coconut or tourism industry.
She also said the strong promotional efforts of the local government units in inviting investors have also helped in attracting investors.
Ambi said the 15 priority industry clusters are strong investment areas for investors coming to the region. These are coconut, ICT, mango, seaweeds, mining, tourism, wood, banana, cacao, bangus, renewable energy, abaca, livestock and poultry, rice, and palm oil.
Earlier, Ambi said the Bureau of Investments (BOI)-Davao Region posted around P31 billion worth of investments that came to the region last year.
She said this is around 500 percent increase from around P5 billion in investments registered in the region in 2012.
Published in the Sun.Star Davao newspaper on March 27, 2014.