Sustainable growth for Davao Region underscored

Sustainable growth for Davao Region underscored

NEW Zealand Ambassador Peter Francis Tavita Kell said the Davao Region should also foster sustainable development as it emerges as a key investment site in the Philippines.

He stated the New Zealand embassy’s goal is “to connect Davao Region to other parts of the world as a sustainable place for global business.” He also emphasized the inclusion of Indigenous Peoples as part of long-lasting economic development in the region.

“Until New Zealand’s chairing, the Asia-Pacific Economic Cooperation has also paid attention to the economic empowerment of other groups with untapped economic potential” through dialogue, e-commerce opportunities, strengthening food security and leveraging traditional knowledge in sustaining economic resilience.

Davao Region’s real estate, manufacturing, tourism and agribusiness sectors will continue to attract steady flow of foreign investment as the country rebounds from the pandemic next year, industry leaders said during the recent two-day sixth Davao Investment Conference 2021.11.26

Davao City Mayor Sara Duterte-Carpio said these sectors have been increasingly drawing in investments into the Davao Region which makes it a good economic pillar for 2022 when the country is expected to recover from the pandemic.

During the confab, businessmen pointed to increasing investment attention being drawn into real estate, tourism, manufacturing and agribusiness in the region making it one of the possible economic pillars of the Philippines for 2022.

“We welcome change and leverage technology in the pursuit of development in the areas of real estate, tourism, manufacturing and agribusiness,” the mayor said.

The 6th Davao Icon will usher in a new era in the ways Davao do business, reach the global market and bring growth and development into the region in the years to come, Duterte-Carpio added.

Trade Secretary Ramon Lopez painted a hopeful picture of the country recovering from the global health crisis, saying the Philippines remains on track to show a growth rebound in 2021.

Davao ICon 2021 Chairman Ricardo Lagdameo likewise pointed to the region’s growth as a major draw for investors before and after the pandemic.

Lagdameo said the Davao Region grew by an average of 5.5 percent, better than the average of 4.8 percent of the country’s gross domestic product over the same two decades.

In the 10 years prior to the pandemic, Region 11’s (Davo Region) average growth was at an impressive 7.3 percent, hitting a high of 9.2 percent in 2016 and faster than the national GDP growth rate of 6.4 percent.

Dr. Maria Lourdes Monteverde, president of the Davao City Chamber of Commerce and Industry Inc., spoke of the industries’ resilience and adaptability to our ever-changing world. Ben Gines Jr.

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