The Department of Trade and Industry in Davao said Region-11 remains a choice investment destination among investors despite the extension of martial law over the island.
DTI-11 Assistant Regional Director Edwin Banquerigo, an engineer, told media the interest in Davao is still high.
“If I am to give an overall assessment of Davao region, it’s still a choice investment destination in the Philippines,” Banquerigo said.
DTI 11 also exceeded its target on the number of business names registered. In Davao City alone, the agency booked more than 10,000 business names, local and foreign, as of November 2018.
“The more businesses registered is an indication that indeed the region is ripe for investment,” he said.
Other indications that interest is high in this city is the booming construction industry. Banquerigo said construction is booming and one indicator is the volume of cement coming into Davao.
“If you move around Davao infrastructure is everywhere. As you can see the skyline of Davao is changing very fast. Number one in Davao is infrastructure development. The traffic alone is an indication that a lot of people are coming to Davao,” he added.
He said with the extension of martial law over Mindanao, the business sector needs to intensify promotions that Davao is business as usual.
“We really have to intensify investment promotions and initiatives,” he said.
Other provinces in the Davao region are also enjoying higher infrastructure investments and opportunities.
DTI-Davao del Sur Provincial Director Delia Ayano said aside from infrastructure, the province is also enjoying a lot of investments because of the “Build Build Build” program. She said here a lot of hotels and restaurants being constructed in the province.
“I guess this is just to cater to the increasing demand of the constituents. Hotels are manifestations that a particular area is improving. It is a good indicator of an improving economy,” she said.
She also mentioned government infrastructure investments just like a big investment that will soon to be developed in Malalag.
For his part, Romeo Castanaga, Provincial Director for DTI-Davao del Norte said in New Corella, this year’s business registered names have reached is 600 while in Dujali, there are more than 300 registered business names.
He said the province’s growth is more inclusive through so-called Negosyo Centers or NCs. At the end of this quarter they will open new NCs in Talaingod, a highland municipality in the boundary of Bukidnon and San Isidro.
“Our development in Davao del Norte is more inclusive through Negosyo Centers that are now present in the municipalities of the province,” he said.