NEDA XI Regional Director Maria Lourdes D. Lim presented Davao Region’s Socioeconomic Performance and Outlook during the Davao leg of the Strategic Investment Priority Plan (SIPP) Domestic Roadshow on July 28, 2022 at the SEDA Hotel, J.P. Laurel Avenue, Davao City. The Davao leg is the 3rd of a series of SIPP roadshows organized by the Department of Trade and Industry (DTI)-Board of Investments (BOI), following the roadshows in Cebu on July 19, 2022 and Cagayan de Oro on July 26, 2022.
Speaking before an audience composed of representatives from business firms, local and foreign chambers, national government agencies and Local Government Units (LGUs), Director Lim highlighted Davao Region’s economic growth at 5.9 percent in 2021, higher than the national figure pegged at 5.6 percent. This, according to Director Lim, shows the region’s resilience amid the pandemic, signaling a strong economic rebound.
Director Lim also shared the status of major infrastructure projects in Davao Region such as the Davao City Coastal Road Project, Davao Bypass Road Construction Project, and Samal Island-Davao City Connector Project. She also mentioned key prospects for Davao Region that will likely boost economic growth in 2022 such as the passage of the Metro Davao Development Authority Act that will steer the integrated development of Metro Davao; Preparation of the successor Davao Regional Development Plan (RDP), 2023-2028; continuous roll-out of the National Vaccination Program; and increased consumer spending due to election-related activities.
The domestic roadshows aim to provide a venue for dissemination and discussion on the SIPP, which contains the list of priority economic activities entitled to tax and fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law. The roadshow is also an opportunity for BOI to provide one-on-one consultation and advisory services to potential investors and guide them on the application and registration processes.
Sr. EDS Rowena M. Dango, NEDA XI