DAVAO City Chamber of Commerce and Industries, Inc. (DCCCII) said more investors will be encouraged to take a look at Davao Region since its economic situation has been consistently “good” over the last five years.
During Habi at Kape media forum Wednesday, May 8, DCCCII executive vice president John Carlo Tria said investors always look at the numbers, the growth rate, and the economy of an area before doing business.
Earlier, Philippine Statistics Authority (PSA)-Davao reported that Davao Region posted an 8.6 percent gross domestic regional product (GRDP).
“Our power situation here is very good and we also have a good GRDP as reported, which is 8.6 percent, still two percent above the GDP of the country. By that alone, it has actually encouraged more investors,” Tria said.
Tria said the figure could be attributed to the increasing number of investors who are confirming to attend the Davao Investment Icon 2019 on June 20 to 21 at the SMX Convention Center. As of Wednesday, they have around a hundred confirmed foreign delegates, an expected 30 to 40 percent increase of the total participants during the event.
In the event, Tria said to encourage the delegates, there will be testimonies from existing businesses in the region that have flourished and succeeded.
Despite martial law in Mindanao, Tria said the demand of property in Davao City remained high which is an indication that investors were not affected by the situation.
“The feedback that we are getting is that martial law is not a deterrent to the enthusiasm of the investors. There was actually a statement from a private company that the property demand in the city remained high despite martial law,” Tria said.
“People seemed to have forgotten it is martial law. Even our friends from Manila, they look forward to coming, martial law is hardly an issue anymore,” he added.