Davao City's investments up 3.3% in 2013-A A +A
Wednesday, February 26, 2014
THE Davao City Investment Promotions Center (DCIPC) reported a continued growth in investments, registering a 3.3 percent increase in 2013.
Based on the Economic Situationer and Outlook for Davao City in 2014 released by DCIPC, it showed that total registered capital of the businesses in Davao City grew from P196.408 billion in 2012 to P203.04 billion in 2013, breaching the P200-billion mark.
It also showed that total capital of renewed businesses went up from P190.247 billion in 2012 to P196.544 billion in 2013 while total capital of new businesses grew from P6.07 billion in 2012 to P6.495 billion in 2013.
Davao City Investment Promotion Center (DCIPC) officer-in-charge Ivan C. Cortez, who guested in Tuesday's edition of Davao Business Forum at Derm Path in SM City Davao, said growth in investments shows the business environment in the city is getting stronger and becoming more conducive to businesses.
"Davao City's market and cost of doing business, like electricity and labor, are competitive considering that it is a metropolitan center," he said.
Cortez said the stable inflation rate also makes Davao City attractive because having a stable inflation rate ensures the investors that their financials will remain stable.
"Because if the inflation rate keeps on changing, the financial credentials will also keep on changing," he said.
Data also showed that total applications for 2013 were at 35,788 with an average capital of P5.673 million.
Published in the Sun.Star Davao newspaper on February 27, 2014.