DAVAO City continues to solidify its reputation as a thriving business hub, with over P3.4 billion in investments secured for 2024, according to the Davao City Investment Promotions Center (DCIPC).
Among the biggest contributors are Monde Nissin Corporation, which invested P2.3 billion, Viking Cold Storage, Inc. with P700 million, Golden Senoritas, Inc. with P365 million, and Virtual Assistant (VA) for Professionals, which brought in P9.8 million.
This momentum has carried into 2025, with P237 million in approved investments recorded as of March. The majority of this amount—P211 million—comes from Aerwall Philippines, Inc., a company specializing in expanded polystyrene system wall panels.
Meanwhile, Nakashin Davao International, Inc., a frozen food exporter, has added P26 million to the city’s growing investment portfolio.
DCIPC’s Investor Assistance Unit head Christian Cambaya said these figures reflect Davao’s rising prominence as a business destination. He believes the city's efforts to create a more investor-friendly environment have contributed significantly to this growth. A major factor in this appeal is the amendments to the 2019 Investment Incentive Code, which were finalized and approved in February. These changes promise to enhance the city's investment climate, offering longer tax breaks from three to five years and expanding priority investment sectors to attract more businesses.
Under the revised Code, business tax exemptions will be extended from three to five years, while real property tax incentives will increase from two to three years. The city has also broadened its list of priority investment sectors, now covering food manufacturing, logistics businesses, and charging stations for electric and alternative fuel vehicles under infrastructure.
In the technology sector, precision agriculture technology and digital health systems have been included, while the health sector now welcomes communicable disease testing and healthcare waste management.
The agri-business sector is also set to benefit, with new incentives for nitrogen freezing, quick freezing technology, and expanded export opportunities.
While these extended incentives may lead to short-term revenue losses, Cambaya assured that the long-term economic benefits would far outweigh the initial costs. A cost-benefit analysis revealed that attracting large companies would create more job opportunities and generate broader economic growth. Additionally, new businesses are expected to stimulate allied industries, benefiting sectors such as raw material suppliers, power providers, and service industries. DEF