Metro Manila, Philippines – The Marcos administration’s economic managers pitched Davao City as the Philippines’ next major growth frontier, urging local and foreign investors to expand in Mindanao as the government pushes investments beyond Metro Manila.
Finance Secretary Frederick Go led the Philippine Economic Briefing (PEB) in Davao City on Monday, Aug. 24, where officials outlined the country’s economic outlook, recent reforms and investment opportunities across Mindanao’s key industries.
“Davao is an important part of the Philippine growth story. It is the economic center of Mindanao. The region has been connecting businesses, employees, capital and markets,” Go said.
The government highlighted investment opportunities in infrastructure, agriculture, energy, manufacturing, tourism, logistics and digital services, describing Davao as one of the country’s fastest-growing highly urbanized cities and a gateway to the rest of Mindanao.
Go said the administration is focused on creating conditions that translate economic growth into more jobs and investments.
He cited reforms intended to make doing business easier, including lower registration fees at the Securities and Exchange Commission, longer importer accreditation validity at the Bureau of Customs, and reduced creditable withholding tax rates for local importers and manufacturers under the Bureau of Internal Revenue.
Go also called on business leaders to help build globally competitive industries in Mindanao.
“The next chapter of Philippine growth will be shaped in Mindanao. So let us make future industries happen here and across the country,” he said.
The Philippine Economic Briefing in Davao forms part of the administration’s regional investment campaign aimed at attracting capital to areas outside the National Capital Region and integrating Mindanao more deeply into the country’s economic agenda.
