Davao City rakes in P1-B worth of investments
2024-Aug-07 16:00
INVESTMENTS. Davao City obtained more than P1 billion worth of investments this year, revealed Mayor Sebastian Z. Duterte during his State of the City Address on Tuesday (Aug. 6, 2024). The investments are in the fields of technology, manufacturing and agribusiness. (PNA/Robinson Niñal Jr.)
DAVAO CITY – This city has secured more than P1 billion worth of investments this year in technology, manufacturing and agribusiness, Mayor Sebastian Duterte said during his State of the City Address (SOCA) on Tuesday.
Aside from the investments, Duterte bared that more than P3 billion in pledges are lined up for the rest of the year in the industries of health, business process outsourcing, tourism, social enterprise, manufacturing and agribusiness.
"It's important that everybody is included in building this city and face what developments may bring," Duterte said.
The mayor also reported that the city currently has sisterhood agreements with 14 local cities and five foreign cities abroad.
Likewise, Duterte reported that by the end of 2023, the city recorded 1.2 million tourist arrivals, significantly higher than the 897,406 recorded in 2022.
The City Tourism and Tourism Office (CTOO) continues to support establishments, with 2,140 securing tourism certifications and licenses, Duterte said.
The 2023 figure for tourism certifications and licenses is a 7.81 increase from the 1,985 licensed establishments in 2022.
"This is proof that the city continues to be a growing tourist destination and provides a favorable business environment for the local tourism industry," Duterte said.
Davao City likewise continues to be a major destination for meetings, incentive travel, conventions and exhibitions (MICE).
From June 2023 to May 2024, he said the number of MICE events hosted by the city nearly doubled to 4,105 from 2,156 events in June 2022 to May 2023.
"We hope to continue hosting more MICE events in the coming year. Our goal is to maintain what we have recovered from the pandemic and improve (more)," Duterte said. (PNA)