Monday, November 20, 2006 IT Park, 6 others boon to city's econ
SEVEN of the most recent investments in Davao City may spell the direction of the local economy in the next few years.
Roberto Teo, chief of the Davao City Investment and Promotion Center (DCIPC), issued this statement in a short talk with businessmen and lay leaders of the Davao Christian Leadership Foundation Inc. during its 557th Breakfast Fellowship at the Grand Men Seng Hotel.
He said these investments add up to another exciting year of the city's business climate, which had its own ups and downs.
"There was, however, a constant rise in capitalization since the drastic slowdown in year 2002. This, after experiencing a surge in 2001 due largely to the P2-B investment of SM Davao," Teo explained.
Teo said the Floirendos are now very aggressive with their investments in the city as can be seen in the establishment of the Damosa IT Park with its first locator Link2Support Call Center, which will operate within the next few months.
The Damosa Gateway on the other hand will not only become haven for entertainment in the city's northern landscape, but also host within its periphery a market for all types of foods produced in the city as well.
The DCIPC has described five other new investments as exciting such as the entry of Nakashin in 2005 giving fruit growers a better deal and the number of food processors that had ventured into establishing their own vapor treatment plants.
In answer to the growing need for more berthing spaces in the city, investors planned to establish their own private wharves such as the AJMR Port Services Corporation.
The groundbreaking of Microtel recently is also another good news in the tourism industry noting the fact that most hotels in Davao are now having an occupancy rate of at least 70 percent, and there are more real estate development projects going on in the last two years, particularly in housing projects, which could mean another start of the property boom in the city.
