Davao Eyed for Six Foreign Investments
Six foreign investors have shown their interest in investing in Davao City, through various meetings with the Davao City Investment and Promotions Center (DCIPC). They have shown their interests particularly in the sectors of tourism, infrastructure, healthcare, and the agricultural business.
DCIPC Officer-in-charge Lemuel Ortonio said that for the past weeks they have been getting inquiries from different foreign investors regarding the investment opportunities in the city.
Two Chinese investors expressed interest to have a shop in the City. One of the two investors is interested in partnering with a local company to put up a socialized housing project. The other Chinese investor in interested in tourism facility investment, to be specific a one compound hotel and convention center.
Two Japanese investors are also expressed their interest. One Japanese investor was a healthcare and consulting firm is interested to partner with the government of Davao City or any private institutions to develop an integrated system health care organization. The other Japanese Investor plans to partner with DCIPC to organize business missions to Japan.
Korean investors talked to DCIPC regarding their interest in establish a shipbuilding facility and a renewable energy power plant in Davao.
A Malaysian investor wants to plan with the local investor to work on the development of the agribusiness sector.
According to Ortonio, all the inquiries happened in a span of two weeks. There are no final details yet, but they are providing them with the investment information that the investors need.
He also added that Davao City is currently in need of tourism-related facilities such as hotel accommodations. The accommodations are always almost fully booked due to the growing population of tourist and business meetings held in the city.
Ortonio also mentioned that DCIPC is looking into agribusiness investments especially on cacao, which Davao is popular for.
A 4.5 hectare land owned by the city government, at Malagos District is being planned to develop the land into an organic farm, which will be opened to agribusiness investors.