Retail, ICT-BPO, agriculture, tourism propel city's economy

DAVAO CITY has been growing at a fast rate in recent years. The growth is evident from the high-rise buildings, growing interest from investors, and improvement in connectivity.

Davao City Investment Promotion Center (DCIP) officer-in-charge Lemuel Ortonio said the retail industry is among the major industries that drive the city's dynamic and booming economy. He said the presence of malls and other retail shops provide employment to many Dabawenyos.

Since 2010, Dabawenyos saw the rise of Abreeza Ayala Mall, SM Lanang Premier, Gaisano Mall of Torilm and Felcris Centrale. Homegrown LTS Mall, Inc. is also currently constructing their nearly P1 billion project in Buhangin.

Ortonio said the agriculture industry also remains to be among the leading economic driver in the city, adding that the industry is able to generate jobs for many Dabawenyos.

Based on DCIPC's Compendium of Economic Indicators 1st, 2nd, and 3rd Quarter 2016, agricultural products like fresh banana, coconut oil, pineapple, and desiccated coconut are the top export commodities coming from Davao City.

Ontorio said the services, information and communication technology (ICT), and tourism sectors are also becoming major contributors to the city's economic landscape.

He said the services and ICT sector continues to grow as homegrown and multi-national business process outsourcing (BPO) companies expand their services from voice to also include non-voice.

The tourism sector is also growing as tourist arrivals continue to increase. Data from DCIPC showed tourist arrivals increased by 7.76 percent in 2016 to 1,864,343 from 1,730,009 in 2015.

The Davao City Chamber of Commerce and Industry, Inc (DCCCII) has also noted growing interest from foreign investors to Davao City.

In the recent Genneral Membership Meeting in February, DCCCII president Captain Ronald Go reported that they have met with the teams of Pakistani Ambassador Safdar Hayat, Danish Ambassador Jan Top Christensen, Australian Ambassador Amanda Gorely, who have indicated that there are companies from their respective countries who are looking into expanding to Davao City.

“They are very interested in pushing forth business with their particular countries and the city of Davao,” said Go.

“We have been receiving foreign investors who said it is their first time to know and here about Davao City. Usually, when they look into investing in the Philippines, they would usually go for Cebu City or Metro Manila,” Ortonio said, adding that now that the President is from Davao City and the continued spotlight for the city, they are expecting an influx of investors here.

Ortonio said accessibility to Davao City is also improving for both domesitc and international destinations. Flag-carrier Philippine Airlines has recently launched its Clark-Davao-Clark route while Cebu Pacific and SilkAir, Singapore Airlines' regional wing, are operating flights between Davao City and Singapore. Xiamen Air is also looking into launching flights between China and Davao City.

Recently, Philippines AirAsia has also added destinations departing from Davao City to Puerte Princesa, Cebu, Caticlan, and Clark.

The Davao City-General Santos City-Bitung Shipping Route is also set to be launched this April providing an alternative shipping route for exporters and at the same time giving them a bigger market to export their products.

It can also be observed that construction of mixed-used developments are also being established in the city like the Davao Park District of Megaworld and Azuela Cove of Ayala Land and Alcantara Group in Lanang.

Likewise, high-rise buildings like Aeon Towers, Avida Towers, Abreeza Place, and Abreeza Residences are seen changing the city's skyline.

“Davao City is growing every year and with this continued growth, we expect Davao City to further become a prime location for business and tourism,” said Ortonio.

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