DESPITE Mindanao being placed under the martial law in the last two years, Davao continues to grow at a seemingly unprecedented rate. In 2018, the region’s gross regional domestic product (GRDP) posted an 8.6 percent growth.
While it is much lower than the 10.7 percent growth it posted in 2017, the region’s growth remains to be higher than the national GRDP of 6.2 percent in 2018.
Davao Region’s continued growth continues to attract investors from different parts of the country and the world.
The staging of the 5th Davao Investment Conference, which opens Thursday and runs until June 21, will serve as a venue for potential investors to know more about how Davao is as an investment destination.
Centered on the theme “Davao: Your Southeast Asian investment destination”, Davao Icon will highlight investment opportunities in the Halal trade, tourism, infrastructure, real estate, information technology, and business process management.
Organizers of the Davao Icon have previously reported that they are expecting the participation of foreign delegates from China, South Korea, Japan, Malaysia, and Singapore. The United States (US) ambassador also said some existing US investors will also be attending the event.
In a recent interview with Davao City Chamber of Commerce and Industry, Inc. (DCCCII)’s Arturo Milan, he earlier said that some delegates from China and South Korea have started to arrive in Davao City ahead of the Davao Icon.
Damosa Land, Inc. (DLI) first vice president Ricardo Lagdameo also posted on his Facebook account the visit of Japanese manufacturing firm Packwell, Inc. at the Anflo Industrial Estate (AIE) in Panabo City, Davao del Norte. The company will be joining the Davao Icon.
The participation of these foreign investors in the Davao Icon is a clear sign of their growing interest to do business here.
The entry of new airlines operating international flights to and from Davao is also increasing. Last year we saw the launching of XiamenAir’s Jinjiang-Davao flight and Cathay Dragon’s Hong Kong-Davao flights. On Tuesday, Qatar Airways launched Davao’s first long-haul flight with their Doha-Davao flights.
These foreign flights are expected to bring in curious investors who may want to potentially expand and do business in Davao.
With the growing interest from investors and some setting up shop here in Davao, we can see that in the coming years, more opportunities will open up for those living in Davao Region. They may not have to travel far now to look for new opportunities.