DAVAO City Mayor Sebastian Duterte proudly announced that the city secured more than P1 billion worth of investments this year in technology, manufacturing, and agribusiness.
Duterte said during his State of the City Address (Soca) on Tuesday, August 7, that a total of P1,080,548,400 worth of investments had been secured as of July 2024.
Additionally, Duterte shared that more than P3 billion in pledges are expected for the rest of the year in the sectors of health, business process outsourcing, tourism, social enterprise, manufacturing, and agribusiness.
“It’s important that everybody is included in building this city and face what developments may bring,” the mayor said.
He also highlighted that the city currently has sisterhood agreements with 14 local and five foreign cities.
He reported a significant increase in tourist arrivals, with 1.2 million tourists recorded by the end of 2023, compared to 897,406 in 2022.
Citing data from the Philippine Statistics Authority for 2021-2022, Duterte noted that Davao City contributed the largest share of the Davao Region's Gross Domestic Product (GDP) at 51.8 percent. He added that in 2022, Davao City accounted for the largest share of GDP among highly urbanized cities outside the National Capital Region. RGL