THE Davao City Investment and Promotions Center (DCIPC) is expecting a boom in investments in the city this year with the entry of firms and projects on agriculture, tourism, business parks, and health care facilities.
Based on the trend that the number of business establishments in Davao City are making from 2012-2016, the DCIPC projects around 5 percent increase in the number of business establishments sprouting in the city in 2018.
Earlier published report from the Davao City Business Bureau reveals more than 41,164 businesses with permits in the city for 2017 with a big chunk from the retail sector.
According to Business Bureau officer-in-charge lawyer Marissa Torrentera, this is much higher compared to the 36,000 to 38,000 business establishments with permits in Davao City for 2016. The retail sector also share a relative number from this figure.
In an interview with DCIPC head Lemuel Ortonio Tuesday, January 9, he said this increase can be attributed to the initiatives of the local government to streamline business permits acquisition therefore helping with the convenience and ease of doing business in the city.
Ortonio also cited the peace and order situation as well as the fact that President Rodrigo Duterte is from Davao City. He said these two are one reasons investors from different parts of the country and the world are coming to Davao City.
“In 2018, we foresee that there would be more investments on agriculture still because that is one of our top industries, tourism, and more business parks. Lastly, we are envisioning that there will be more health facilities, not just the general hospitals but more on specialized health facilities. We conducted consultative meetings with (the representatives) of the health sector. They were also able to identify some possible needs in the city and gaps in terms of medical facilities which can be made investment opportunities for potential investors,” said Ortonio.
DTI Davao Region Section Chief for Business Registration, Licensing, and Accreditation engineer Ruel Braña, in an earlier interview, said the business trend in 2017 as far as business registration is concerned is on food establishments and laundry shops.
Published in the SunStar Davao newspaper on January 11, 2018.
Latest issues of SunStar Davao also available on your mobile phones, laptops, and tablets. Subscribe to our digital editions at epaper.sunstar.com.ph and get a free seven-day trial.