DAVAO CITY -- The chief of the Davao City Investment and Promotion Center (DCIPC) said this city will continue to position itself as Mindanao's investment hub, amid the advisories issued by foreign embassies against traveling to the island.
DCIPC chief Lemuel Ortonio said no travel advisory, even the martial law in Mindanao, can scare domestic and foreign investors away.
Ortonio is bullish that Davao City will continue to lure investors given its improved facilities, as well as its peace and order condition.
But he said the city government will not rest on its laurels and will continue to hold investment and tourism campaigns to promote the city.
"We reach out to our target clients, investors and potential visitors to Davao City and tell them what the current situation in the city is. Yes, there is a travel advisory, but most of the travel advisories in Mindanao exempted Davao City," Ortonio said.
The last travel advisory issued by the United States, for instance, was in April when it prohibited its citizens from traveling to the Sulu Archipelago, including the southern Sulu Sea, Marawi City and, other areas in Mindanao due to supposed terrorism, criminality and civil unrest. It also reminded its citizens that Mindanao is under martial law.
Ortonio said DCIPC is out to counter the negative effects of travel advisories on Davao City's business environment. He said the investment body is eyeing to hold another meeting with ambassadors and investors as a selling campaign, highlighting investment opportunities and tourism activities in the city.
He recalled that last year’s meeting with foreign embassies in the city was well-received because they realized the real conducive situation in Davao following the declaration of martial law.
Ortonio said DCIPC still receives investment inquiries, especially about agriculture and the industry sectors, adding the local government is also helping local businessmen to find their markets abroad, especially within the ASEAN region.
In May this year, DCIPC led a tourism and trade roadshow in Seoul, Korea to increase its engagements with foreign neighbors not only to boost trade and tourism industry but also find a market for local entrepreneurs.
A business forum was also conducted during the Seoul trip, which was aimed at highlighting the investment opportunities in Davao.
On the other hand, the April economic performance report showed that Davao’s economy continues to grow despite martial law and travel advisories in 2018.
Davao Region maintained its position as the largest regional economy with a total output of PHP400.8 billion, with Services contributing 49.3 percent, Industry at 40.1 percent, and Agriculture at 10.6 percent.
The National Economic Development Authority (NEDA) stated that the economic performance results in 2018 showed Davao Region's strong standing among its peers, validate its role as the prime economic, financial and commercial hub in Mindanao, and amplify its vast potentials as the primary growth center in the southern Philippines. (PNA)
