BUSINESS BEAT: ‘Most competitive cities’ to boost Mindanao economy

joanna-balanzaMindanao’s investment climate was expected to gain headway with the inclusion of several Mindanao cities in the list of ‘most competitive cities.”

The National Competitiveness Council (NCC) in its 2014 Cities and Municipalities Competitiveness Index (CMCI) survey has listed Cagayan de Oro City and Davao City as among the country’s most competitive cities.

Other local government units (municipalities) in Mindanao that landed in the list are Nabunturan in Compostella Valley, Isulan in Sultan Kudarat, Polomolok in South Cotabato and Manolo Fortich in Bukidnon.

“This recent ranking will definitely provide a favorable investment outlook for the entire Mindanao,” said Undersecretary Janet Lopoz, Mindanao Development Authority (Minda) executive director, in a report in the Davao City daily Edge Davao.

Lopoz said results of the survey show that investors are not only bullish about Mindanao, but sees the island-region becoming a crucial investment option in their radar screens.

She also pointed out that the recent ranking is a testament of the transformation and development of the island in recent years.

“Our vision for Mindanao is to transform the island-region into a dynamic economy that is enjoying inclusive, balanced, and sustained growth in the next 20 years.

MORE INFRAS

Davao City and General Santos City need more infrastructure to become transshipment hubs in the East Asean Growth Area (Eaga), said Department of Trade and Industry (DTI) Sec. Gregory Domingo.

Due to their strategic location, Davao City and General Santos City have the  potential to become a transshipment hub in the Eaga sub-region, covering trades to and from Northeast Indonesia, East Malaysia, Brunei, and West New Guinea including China, Japan, Korea, Taiwan and Vietnam,” said Domingo in his speech at the  National Micro, Small, and Medium Enterprises (MSMEs) Summit in Davao City.

But Domingo said that there is a need to pour in more investments in infrastructure like improving port facilities.

Investors’ Guide

The Davao City Investment Promotion Center (DCIPC) will establish an advisory center to guide new investors, said its chief Ivan Cortez.

DCIPC is collaborating with the  Department of Trade and Industry (DTI) 11 on the project, he said.

P14.7-B investments

The Bureau of Investments (BOI)-Davao Extension Office has registered 13 new investments worth P14.7 billion from January to June this year.

The investments were spread out in  Davao Region, Agusan del Norte, Surigao City, North Cotabato, and South Cotabato.

Investment areas include transportation and storage, real estate, agriculture, electricity, manufacturing, food processing, renewable energy, and tourism facilities.

ICT gab

The 6th Summit of National ICT Confederation of the Philippines (NICP) will be held in Davao City on October 24, 2014 at the SMX Convention Center Davao at SM Lanang Premier, said NICP chair Wit Holganza.

Holganza said this year’s summit will be staged alongside with the 2014 Brunei -Indonesia-Malaysia-Philippines/ East Asean Growth Area (BIMP-Eaga) and Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Trade Fair and Business Leaders’ Conference on October 23 to 26, 2014.

She said the summit will be attended by about 400 delegates from ICT councils in the Philippines and member-countries of the BIMP-Eaga.

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