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PIA Press Release

Investments in DC seen to surpass 2005 figures

by Prix D Banzon

Davao City (19 October) -- Davao City still has to figure out how to surpass the highest record ever in capitalization of businesses in 2004 at P118.5 billion. But one can see the trends that it can easily overtake the 2005 figures of P112 billion with the influx of new investments at the end of December this year.

Ivan Cortez, deputy head of the Davao City Investment and Promotion Center (DCIPC) who was guest during the business forum at Café Barcellis in Davao City. Disclosed that investments are up even as early as June this year where total capitalization has already marked P104.7 billion both for new and renewal of businesses.

"There is an P8 billion shy of leveling with the 2005 figure but that can be achieved as more investments are expected to come in," he said.

Looking back from 2001 to 2005, the 2004 record remains highest and he attributed it to more businesses on printing jobs and other related services like food and promotions because it was an election year.

"There was high circulation of money for these type of businesses during election," he said.

Comparing it with 2005 he said compared there was a 5.5 percent decrease in the total capitalization although the year posted an increase in applications of 14.3 percent.

He said that figures show an increasing trend in businesses in Davao City with 2000 at P62.2 billion, 2001, P69.4 billion, 2002, P80.1 billion, and 2003, P83.8 billion.

The number of applications varied through the years with 20,528 in 2001, 18,707, 2002, 22,254 in 2003, 24,093 in 2004, 27,568 in 2005.

The figure for the first six months on the number of applications in 2006 is already 18,109 more than half of the highest figure in 2005.

As far as survival rate of businesses is concerned within the six years period, 2003 ranked highest with 88.26 percent, followed by 2005 at 86.51 percent, 2004, 84.21 percent, 2001, 79.56 percent, 2000, 79.51 percent and 2002, 73.52 percent.

He said using the average survival rate of 82.4 percent and applying this to the 2005 figure of 27,558 applications, 2006 will likely register 22,707 renewals.

"Using these data, it can be projected that 4,598 businesses will apply for renewal in the remaining months of 2006," he said.

He also said that with reference to the data presented on the average capitalization per renewal in the last five year, the City can expect an additional registration of P23.9 billion which will hike the totals to P127.9 billion excluding new applications that will register from June to December.

He said the unusually higher than average figures in 2001 of P2.4 billion in total capitalization with the number of applications pegged at 4,085 can be attributed to the entry of SM City Davao. It is considered one of the biggest businesses that opened in the city with its main anchors namely; the SM Department Store, SM Supermarket and other tenants within the mall.

The other figures on total capitalization per new applications by year were as follows, 2002, P958.8 million (3,614), 2003, P1.521 billion (5,596), 2004, P1.557 billion (5,491), 2005, P1.506 billion (6,714). The first half of 2006 has P419 M with 2,666 applications. (PIA XI) [top]

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