Investments soared in Davao last 2011


The changing landscape of Davao City.

A robust influx of investments in the city was noted last year, marking a growth of 47.6 percent in terms of the amount of investments from the new businesses.

Davao City Investment and Promotion Center (DCIPC) chief Jason Magnaye reported that Davao City gained total investments of P3.68 billion from the new businesses in 2011 compared to the P2.5 billion investment in 2010.

Magnaye said the total investments reached to P187 billion, earning a growth of 2.6% for the city last year. In 2010, Davao City gained P183 billion, he added.

Though the DCIPC chief noted a decline in business permit renewals last year, substantial business ventures poured in, saying that these “largely came from property development projects or real estate investments.” read more

(Carina L. Cayon)


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