DCIPC: Investment boom expected this year
THE Davao City Investment and Promotions Center (DCIPC) is expecting a boom in investments in the city this year with the entry of firms and projects on agriculture, tourism, business parks, and healthcare facilities.
Based on the trend that the number of business establishments in Davao City are making from 2012-2016, the DCIPC projects around 5 percent (%) increase in the number of business establishments sprouting in the city this 2018.
Earlier published report from the Davao City Business Bureau reveals more than 41,164 with businesses with permits in the city for 2017 with a big chunk from the retailing sector. According to Business Bureau officer-in-charge attorney Marissa Torrentera this is much higher compared to the 36,000 to 38,000 business establishments with permits in Davao City for 2016. Even in 2016, there is a good number of establishments from the retailing sector.
In an interview with DCIPC head Lemuel Ortonio last Tuesday, January 9, he said this increase in the establishments can be attributed to the initiatives of the local government to streamline business permits acquisition therefore helping with the convenience and ease of doing business in the city. Ortonio also cited the peace and order situation as well as the fact that President Rodrigo Duterte is from Davao City as the other two major reasons investors from different parts of the country and the world are coming to invest in Davao City.
“In 2018, we foresee that there would be more
investments on agriculture still because that is one of our top industries, Tourism, and more business parks. Lastly, we are envisioning that there will be more health facilities, not just the general hospitals but more on specialized health facilities. We conducted consultative meetings with (the representatives) of the health sector. They were also able to identify some possible needs in the city and gaps in terms of medical facilities which can be made investment opportunities for potential investors,” said Ortonio.
DTI Davao Region Section Chief for Business Registration, Licensing, and Accreditation engineer Ruel Braña, in an earlier interview, said the business trend in 2017 as far as business registration is concerned is on food establishments and laundry shops.