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2014 TOP BUSINESS STORIES – durianburgdavao

STEELASIA OPENS
P3-B DAVAO PLANT

SteelAsia Manufacturing Corp. (SAMC) inaugurates its Davao Works Rolling Mill in Davao City.

The P3 billion plant in Bunawan district is the Philippines’ largest and most advanced steel mill.
The Davao plant would cut shipping cost of steel construction materials traditionally sourced from Manila.
The Davao plant was expected to provide a large chunk of supplies to Mindanao’s construction industry.
The 11-hectare Davao plant is projected to produce 500,000 metric tons of rebars annually using the most modern of Italian technology.

megaworldMEGAWORLD’S P15-BILLION DAVAO PARK DISTRICT TO RISE IN DAVAO CITY

Megaworld, the Philippines’ biggest property developer has picked Davao City for its latest township project: a P15-billion mixed-use complex to be called Davao Park District.
The project, Megaworld’s first in Mindanao and the 10thin the country, is in tandem with Davao City’s Dakudao family and will rise on 11 hectares of the former Lanang Golf and Country Club on J. P. Laurel Avenue owned by the Dakudaos.
Davao Park District is a modern mixed-use township with high-rise buildings for residential and commercial condominiums and other business.
The project is to be completed in five to seven years.
Megaworld said it was inspired to locate its 10th project in Davao City —a major economic center in the country — due to its impressive record as a peaceful and a business-friendly city.
Vista Land, the country’s largest homebuilder, also announced that they will be pouring in some P40 billion investment to develop large residential projects in Davao City within the next five to six years.

davao airportP59 BILLION FOR EXPANSION OF
DAVAO AIRPORT, SASA WHARF

The government-owned Sasa Wharf will soon get back its glory as Davao City’s premier loading and unloading pier for domestic and ocean-going vessels.
The Department of Transportation and Communication (DoTC) has given the go-signal for a P19 billion modernization of the wharf located in Davao City’s industrial Second District zone.
The Sasa Port Modernization Project will rehabilitate and modernize facilities, operation and maintenance of the port.
In another big-ticket government project in Davao City, the Davao International Airport (Francisco Bangoy International Airport) will undergo expansion worth P40 billion, ahead of projected increase in cargo and passenger volume and the 2015 Asean Integration that could rev up cross trading by the premier city of Mindanao with neighboring countries of Brunei, Indonesia and Malaysia.
The expansion project for Mindanao’s biggest airport was expected to start this year.

BIMP EAGABIMP-EAGA BUSINESS LEADERS’ MEETING AND TRADE FAIR

The 2nd BIMP-Eaga & IMT-GT Trade Fair and Business Leaders’ Conference was the biggest business event of 2014 hosted by Davao City.
Mayor Rodrigo Duterte welcomed more than 1,000 economic and business leaders leaders from the East Asean region and from other countries.
Duterte said the international business event was expected to “effectively promote investments and generate trade” in Mindanao, and has given full support by declaring a Celebration Week for the event held from October 22 to October 26 at the SMX Convention Center in Davao City.
“The City of Davao welcomes this event as an opportunity, not only for Davaoeños, but also for residents and entrepreneurs in other cities and municipalities in Mindanao, to effectively promote investments and generate trade in their respective jurisdiction,” Duterte said in Proclamation No. 3.
Historically, Davao City played crucial role in the birth and growth of the BIMP/Eaga.
BIMP/Eaga, an ambitious move initiated by then President Fidel Ramos to place the East Asean sub-regional economic group composed of Brunei, Indonesia, Malaysia and the Philippines in the map of investors, was launched in Davao City in the early 90s.

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