Entry of BPO firms helps push Davao’s capital infusion in 2015

From January to November of 2015, Davao City posted capital infusion of Php214.1bn, higher than the P211bn recorded for the entire 2014, thanks to the entry of business process outsourcing (BPO) firms as well as the coming in of a chain of convenience stores. Ivan Chin Cortez, officer-in-charge of the Davao City Investment Promotion Center, told reporters that the city issued 34,711 mayor permits, with at least 4,880 of them were for new businesses, in the first 11 months of 2014. These businesses invested a combined Php214.095bn during the said period, with BPO companies and the 7-Eleven chain of convenience stores driving the increase. Cortez also stressed that the city’s booming real estate industry had also contributed to the local economy’s growth last year.