INVESTMENTS keep coming at the Davao Chinatown area, most are bank institutions and trade establishments.

Davao City administrator Melchor Quitain said forming and strengthening the Chinese community in the city has increased investments, especially within the Chinatown area.

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"Only the City Investment and Promotions Office has the right figures as to the investments poured in by the Chinese but the number of banks within Chinatown is a clear sign how active business is going on here," Quitain said.

Data showed that there are more than 20 banks built within the area and such number is considered the biggest concentration of banks all over Davao.

Not just local Dabawenyos patronize Chinese products sold in Chinatown but also those coming from neighboring provinces.

These people preferred to buy goods in Davao instead of going to Metro Manila since prices of goods are comparably lower than the ones sold outside Davao.

As a way of giving importance to the role of Chinese businessmen in the city, the City Government of Davao leads the celebration of Chinese New Year.

Starting February 12, various events will be held at the Magsaysay Park to welcome the Year of the Tiger.

Activities include the unveiling of the Chinese New Year banner, opening of the Chinese New Year Bazaar, showcase of Chinese cultural and musical presentations, tea drinking, calligraphy, lantern riddle, mahjong bingo, flower horn and betta competitions, dog shows, and Tai Chi.

Created under Executive Order 1 series of 2009, the Davao Chinese New Year Festival celebrates the harmonious relations of the locals with the city's Chinese community, and promotes the development of the city's Chinatown.

Davao City's Chinatown covers the area of R. Magsaysay Ave., Monteverde Ave., Sta. Ana Ave., and Leon Garcia St. considered one of the major historical, economic and cultural center of the city. (PIA/Mai Gevera)