DAVAO CITY – Davao City has continued to attract the interest of foreign and local investors, exploring business opportunities in the city.
A group of Canadians from Toronto has met with the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) to see what Davao has to offer, said DCCCII president Arturo Milan.
He said the Canadians, who expressed interest in the city’s information technology industry, property development, and construction industry, were briefed on Davao’s business climate and were engaged for business matching.
“There is nothing definite,” said Milan, who was hopeful with the business matching. “That is very encouraging.”
Come March, a 70-member delegation from Shanghai, China engaged in its Belt and Road project will also visit the city.
“They are trying to organize a Philippine-China Belt and Road economic forum,” he bared.
The visits are indications that Davao City is becoming attractive to investors, Milan said, noting the benefit trade missions bring to Dabawenyos, particularly jobs.
He commended the city government for giving extra effort to secure the city to make it a prime investment destination and urged the business sector to take trade missions seriously because these would open joint business ventures
“We are excited with this development,” he said, adding that he looks forward to promoting Davao more to attract investors.
Milan was looking for more investments in agriculture, manufacturing and service sectors. “Our economy is driven by agriculture, manufacturing and service sector. We have more jobs in business process outsourcing, information technology, and tourism,” he said.
He underscored the importance of promoting agriculture, for instance, to make it more attractive.
Milan cited a South Korean envoy who highlighted the importance of how strategic alliance with developed countries where food security would be the biggest issue.
With the lack of farmers because of the ageing population of some developed countries, Milan said the Philippines could be a big source of food.
Given all these, Milan still finds establishing an economic zone in the city important. He expressed hope that it would be at the initiative of the city government because the land value in the city is increasing, brought about by the city’s rapid development.
He said the price of land discourages the private sector from putting up one and this is where the government comes in. The price of land in Davao City could reach as much as PHP60,000 to PHP100,00 per square meter depending on the location or the property. Milan said.
Ideally, he said, an economic zone requires 100 hectares. “Fifty can do as a start,” Milan said.
Milan said there are other requirements to establish an economic zone, such as its proximity to ports and airports and available basic infrastructure. (Lilian C. Mellejor/PNA)
