DAVAO CITY — Local leaders welcomed the inclusion of Davao City and Compostela Valley Province in the 2017’s 10 richest local government units in the country.
“It says a lot about the promising future of cities outside Luzon, especially the ones from Mindanao,” Mayor Sara Z. Duterte said in a statement released by City Hall on Tuesday.
In a report published by CNN Philippines, Davao City was declared the ninth richest city in the Philippines, with total assets equal to PHP13.181 billion.
The report was based on 2017 annual financial report of the Commission on Audit (COA) for local government units.
The top 10 LGUs are Makati with PHP196.573 billion in total assets, followed by Quezon City, PHP68.332 billion; Manila City – PHP38.676 billion; Cebu City – PHP33.861 billion; Pasig City – PHP33.703 billion; Taguig City – PHP19.641 billion; Caloocan City – PHP17.010 billion; Pasay City – PHP16.662 billion; Davao City – PHP13.181 billion; and, Calamba City with PHP12.414 billion in total assets.
Buoyed by the city’s ranking, Mayor Sara said she is also eyeing to make Davao City debt-free in the next two years.
“Despite this recognition, we are trying our hardest to ensure that we identify and reach those who are poor and take them out of poverty. Only then we can truly be happy about being a rich city,” the mayor said.
Among the country’s provinces, the gold-rich province of Compostela Valley ranked the second richest with PHP18.95 billion worth of assets.
Cebu province is the richest province with PHP34.14 million in total assets.
Compostela Valley Governor Jayvee Tyron Uy said the recognition “speaks volume of the efficiency of the Provincial Government in keeping its resources; resources that will be used to deliver social services and finish infrastructures swiftly and efficiently.”
“This means that we have improved capacities to respond to the demands of our constituency,” Uy added.
Uy recalled that ComVal was also recently named as the second most competitive province in Davao Region.
“This cements our place as a viable business and investment destination in Mindanao,” Uy said. (Lilian C Mellejor/PNA)
