Davao City continues to strengthen its position as one of the Philippines' major economic pillars. Over the last two decades, Davao registered an average annual growth rate of 5.5% in GRDP, surpassing the country's annual average growth of 4.8%. Moreover, as countries across the globe entered an economic recession brought about by the pandemic, Davao fared relatively well as compared to its neighboring cities and provinces. While the national average contraction rate in 2020 was 9.6%, Davao's economy contracted by only 7.6%.
Agribusiness, tourism, real estate, and manufacturing are among the key investment drivers in the city. Currently, Davao is home to several businesses engaging in business process outsourcing, international hospitality, township development, and port operations. In addition to the abundance of raw materials, availability of a high-skilled workforce, and low cost of doing business, Davao's commitment to digitalization and technological adoption places the city at a further advantage and opens several opportunities for investors to explore.
In line with this, the European Chamber of Commerce of the Philippines, in partnership with the Davao City Investment Promotion Center, is inviting the Finnish Business Community to NOW (New Opportunities Waiting) in Davao City: Investment Opportunities for Nordic Businesses, which will be held on 18 May 2022 from 03:00 PM - 5:30 PM (GMT +8), via Zoom. This webinar will provide a platform for Finnish businesses to explore the different opportunities waiting in Davao, as well as the necessary information needed as you pursue these opportunities and expand your business.