THE Davao City Chamber of Commerce and Industry, Incorporated (DCCCII) said that a good government incentive program for private sectors willing to develop areas in the city as economic zones can shoot smooth investment movement in Davao City.
Lack of economic zones in Davao City is seen to be one of the pressing issues that the business industry is currently facing, according to DCCCII president Ronald Go.
During the Kapehan sa Dabaw weekly media forum on Monday, July 17, at The Annex of SM City Davao, Go said the presence of economic zones in the city would make doing business here better for new investors.
"The thrust now is really to look for areas from the private sector that would be willing to put up these eco zones. Hopefully the city government can probably encourage them with more incentives because I think one of the things that actually discourage a lot of the investors from coming in to develop these is the enormous amount of money that they have to do for developing the area," Go said.
He added that since these developments are not residential, return of investments may not be as quick.
Go said some foreign investors had previously suggested that it would be a good idea and an economic convenience if the city has its own economic zone. He cited that some property developers and owners who talked with the investors had "promised so much" but when the investors arrived, the area was not yet developed and has no electricity, water access and good roads.
"It becomes harder to do business for them but if you have these economic zones where people can come in and everything is already organized, property rights are already ironed out, then definitely investments will continue to come," Go said, adding that the city government of Davao is currently looking for areas to be developed as economic zones.
He said at least a 25-hectare land area is needed to be converted into an economic zone. Based on their meeting with the Davao City Investment and Promotions Center, the government is already on its search for larger areas for development fit to be developed into economic zone.
Published in the SunStar Davao newspaper on July 18, 2017.
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