TRADE and Industry (DTI) Assistant Regional Director Edwin O. Banquerigo said the Davao region must continue to intensify its investment promotions amidst martial law extension in Mindanao.
“Davao is business as usual, and is relatively safe,” Banquerigo said, adding that the city continues to receive a lot of requests for incentives for both local and foreign investors who wish to expand business operation within Davao City.
Banquerigo cited that some businesses like restaurants and hotel accommodations were affected with the declaration of martial law in 2017.
Last May 23, 2017 President Rodrigo Duterte declared martial law in Mindanao due to terrorist attacks led by brothers Omar and Abdullah Maute who were former members of the Moro Islamic Liberation Front (MILF).
Through a joint session of Congress, just before the State of the Nation, martial law was extended, from the original 60-days to another 5 months, until December 31, 2017.
Yet on December 8, 2017, President Rodrigo Duterte again requested a one-year extension until December 31, 2018 which the Congress approved. But just last Wednesday, December 12, 2018 the Congress then again approved the third extension of martial law in Mindanao which will end by December 31, 2019.
Amidst martial law extension in Mindanao, Banquerigo said DTI must still continue to entice investment for the city to continue economic progress.
Banquerigo said the information and communications technology (ICT) industry, as a competitive industry, can be a good business investment opportunity for the city.
Davao City ranked ten places higher as one of the top outsourcing destinations in the world, beating its 85th spot from last year’s list based on Tholons Services Globalization Index. (GAD)