Davao City, Davao de Oro wealthiest in Mindanao

DAVAO City and Davao de Oro remain to be the wealthiest city and province in Mindanao, in terms of assets, based on the 2019 report of the Commission on Audit (COA).

According to COA's "2019 Annual Financial Report" submitted to Congress and the Office of the President on December 14, 2020, Davao City's total assets increased to P19.78 billion from P16.259 billion in 2018, P13.181 billion in 2017, and P9.898 billion in 2016.

This is the city's fourth year as the richest city in Mindanao, making Davao City the lone city government on the island on the list.

The city dropped a notch to the 10th spot after being on the ninth spot as the richest city in the country for three consecutive years.

Davao de Oro (formerly Compostela Valley), meanwhile, is the richest province in Mindanao with a total asset of P20 billion. This is an increase from 2018's total asset of P19.615 billion, and P18.950 billion in 2017.

Davao de Oro went down two notches to fourth place in 2019 after being the second richest provincial local government unit (LGU) for two consecutive years.

Meanwhile, Makati kept its top spot as the richest city in the country with total assets reaching P233.78 billion.

Completing the top 10 list of richest cities for 2019 are Quezon City, with P96.4 billion in total assets, Manila (P64.8 billion), Pasig (P45.6 billion), Cebu City (P34.7 billion), Mandaue City (P32.2 billion), Taguig (P29 billion), Caloocan (P20.6 billion), Pasay (P19.8 billion) and Davao City.

Meanwhile, Cebu is the richest province in the country with total assets at P203.9 billion, followed by Batangas with P20.793 billion and Rizal with P20.275 billion.

Cainta, Rizal led the country's municipalities in terms of total assets at P4.933 billion, followed by Limay, Bataan and Silang, Cavite with P4.605 billion and P3.842 billion, respectively.

Davao City Mayor Sara Duterte, when asked by SunStar Davao in a radio interview on Friday, January 15, regarding the recent COA report, said placing on the top list has never been a priority of the city since then.

"Wala namo na gitarget nga i-achieve (It is not something we targeted) for 2019, so that is not something we are targeting to achieve in 2020," the mayor said.


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