New investments in city up 49% in Q1-A A +A
Thursday, May 1, 2014
THE Davao City Business Bureau registered a total of P1.599 billion in new investments poured in the city in the first three months of the year, representing a 49 percent increase as compared to the same period last year with P1.073 billion.
Also, a total of 1,357 new business permits have been issued during the same period as against 1,352 issued in the previous year.
Maribel T. Paguican, acting assistant officer at the Business Bureau, told Sun.Star Davao that though the increase in the number of establishments is just minimal, most of the investors who came in the first quarter this year poured in bigger capital outlay.
For the month of January 2014, a total of 251 new businesses were issued permits with a total investments of P81.259 million. In February, there were 492 new businesses with total investments amounting to P236.774 million. In March, there were 614 new businesses with total investments of P1.281 billion.
Paguican said most of the businesses were in the retail and wholesale industry. She also said most of the businesses applied for a business permit after January because they did not want to go with the busyness of renewal period.
"The entry of many new businesses shows the business climate in Davao City is improving. More businesses also means more jobs for Dabawenyos," she said.
Published in the Sun.Star Davao newspaper on May 01, 2014.