‘Strong’ business confidence in Davao
THE business confidence in Davao City remains “very strong” even after the pandemic, a business leader said.
“[Investors and businesses have a] Very strong bedrock of confidence in Davao City, because trade relationships within the city are always strong,” John Carlo Tria, Davao City Chamber of Commerce and Industry Incorporated (DCCCII) president, said during the Kapehan sa PIA at the Davao Light and Power Company on April 3, 2023.
Tria said signs of business confidence can be found through a rise of a lot of small and medium enterprises (SMEs) scattered through the different parts of the city.
Tria added, if small businesses boom, then business confidence is still high despite challenges like the effects of the pandemic.
“You go to different parts of the city, a lot of open-air food parks (are being built), that is the sign of the very strong confidence, kay usually ang mga nagataod ana na mga kan-anan (those who put up these food stalls) are [coming from] small and medium businesses,” Tria said.
For larger businesses, Tria said they are now looking into ten-year long-term planning stages for themselves, rather than annual planning.
“If you look at the larger businesses, many of them are recalibrating the way they look at the next ten years, as we are in a post-pandemic,” Tria said.
“So that means we now have the opportunity to give thanks for all the lessons [from the pandemic] and apply them this time,” Tria added.
The Philippine Statistics Authority (PSA) latest data recorded a total of 60,525 business enterprises operating in Davao Region, employing 298,858 people, as of 2021 when the pandemic still exists.
From this data, 60,307 (99.64%) are MSMEs and 218 (0.36%) are large enterprises. Micro enterprises constitute 90.54% (978,612) of total establishments, followed by small enterprises at 8.63% (93,230) and medium enterprises at 0.41% (4,437).
As the DCCCII will hold its Davao Investment Conference (Davao ICon 2023) this July 18 to 19 at SMX Convention Center, Tria said as a chamber, they are looking to instill more confidence in potential businesses who would want to invest in the city through these type of conferences.
“We are seeing the fruits of these (Davao ICon) conferences eh, back then 2012 gina-invite nato sila to invest diri sa atong lugar, raw land, kalubihan,” Tria said.
“But now, when we start inviting them [investors] to townships that are under construction, successful pre-selling of units with amenities ready to take over investments, where houses already waiting for tenants,” Tria added.
Tria said they are expecting this year’s ICon will be accommodating 400 to 500 guests from various countries. ICE