Davao City forecasts positive economic growth

Davao City forecasts positive economic growth
Mark Perandos

IN THE coming years, Davao City's economy is poised for positive growth, according to projections by the National Economic Development Authority-Davao Region (Neda-Davao Region), aligned with the comprehensive Davao Regional Development Plan (DRDP) approved by the Regional Development Council (RDC).

The DRDP, a blueprint for Davao Region's development from 2023 to 2028, centers around five strategic pillars: economic development, social development, environmental management, institutional development, and peace and security.

During the Habi at Kape Media Forum on January 10, 2024, Arturo Milan, co-chair of RDC-Davao, Neda board member for Regional Development-Private Sector Representative for Mindanao, and chairman of One Mindanao Business Club, announced major plans for Davao's economic development.

"We have defined clearly what we wanted to achieve for Davao Region for the next 2023 to 2028 — that's a five-year planning period. We really wanted to improve our infrastructure, and part of that is looking at our international airport. We need an airport that can serve as an alternate airport in the Davao Region," he said.

He emphasized the need to enhance infrastructure, particularly the international airport, to serve as an alternative airport in the region. 

Milan highlighted the importance of prioritizing agri-powered technology to prevent successive high inflation and maintain a stable economy.

"We also need to modernize our agriculture. In 2023, we encountered headwinds. Number one is inflation and kahit bumaba ang inflation, the food prices remain the same (and despite a decline in inflation, the food prices remain the same)," he added.

The DRDP was approved during the RDC-Davao Region's 4th quarter CY 2022 full council meeting on December 13, 2022, based on the eight-point socio-economic development strategy of the Marcos administration and the Philippine Development Plan (PDP), 2023–2028.

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