THE province of Davao de Oro has recorded about 83.6 percent increase in investment between 2019 and the first two months of 2020.
In the data provided to the media, the business capitalization in the province from January to February in 2020 reached about P5.86 billion while P3.19 billion was recorded in January to December 2019.
There was also an increase in the collection from business taxes, local fees, economic enterprise taxes and other local fees and charges by about 58 percent.
For the initial periods of 2020, the province collected about P136 million revenues compared to the P86 million from January to September 2019.
Davao de Oro governor Jayvee Tyron Uy said some of the fast food chains, convenience stores, and aquaculture projects are expanding in the province.
“Ang atong aquaculture industry is also gaining ground. I just met with the BFAR (Bureau of Fisheries and Aquatic Resources) authorities and aduna puy two-folds increase every year since 2017 ang fish cage operators sa tulo nato ka munisipyo [like] Maco, Mabini, and Pantukan (We experienced two-folds increase in our fish cage operators since 2017 in three towns specifically Maco, Mabini, and Pantukan),” he said.
He said a businessman from Zamboanga City has also established a shrimp culture farm groomed for export in Pantukan town.
Uy said tourist arrivals between 2017 and 2019 have consistently rose by 10 to 20 percent increase per year.
Based on the province’s data, tourist arrivals posted 2 million in 2018, higher by 26 percent from the 1.6 million in 2017.
The numbers jumped to 2.8 million in 2019 or a 37 percent increase from the figures in 2018.
Uy attributed the growth to the road constructions between municipalities and to tourism destinations and other industries.
“Nagsunod-sunod gyud ang mga investments sa infrastructure diha paving way to the tourism arrivals and industries to invest sa atong probinsya (Investments in infrastructure paved way for the tourism arrivals and other industries to invest in our province),” he said.
He added that the towns have also improved their beaches such as the establishment of an A class resort in Mabini and other resorts in Pantukan.