Davao City was considered as the top destination for investment in the Philippines due to the total capitalization of 36,325 with PHP 283 billion worth, Davao City Investment Promotion Center (DCIPC).
“The efforts of the government to invest in more public infrastructure projects made Davao more enticing to investors, indicating a strong development in the local economy,” Christian Cambaya, head of the Investor Assistance and Servicing Unit of the DCIPC.
The strong collaboration between the local government of Davao City and the private businesses attributed on the ease of doing business in the city.
Apart from being the top destination for investment, Cambaya emphasized that Davao City is conducive for investments. The development of the city is significantly affected by the increasing numbers of business in the number of new business establishments.
“The local government hopes to attract more investors after the local council passed the amended Davao City Investment Code, which enhanced the provisions on preferred investment areas and the incentive packages offered to potential investors, which cover investments in tourism and recreational facilities; light manufacturing; infrastructure and connectivity; information and communications technology; property development; health and wellness, education, and sports facilities; generation of new sources of energy; and green projects,” Cambaya said.
“The investment incentives offered here include three-year exemption from business tax, and two-year exemption from real property tax for “new, expansion, and diversification” of those businesses classified under the preferred investment areas,” Cambaya added.
The Baguio, Calinan, Marilog, and Paquibato districts are potential locations for investments which was proposed by the local government.