DAVAO City has 1,976 new business applications with issued permit to operate as of April this year.
City Treasurer's Office (CTO) head Erwin Alparaque said majority of the classification of these new business establishments in the city are retailers and services.
"Every year, from the record of the Business Bureau and CTO, there is always an increase of number of new business establishments. The bulk of the existing establishments are a good sign. We could really see the development of the city," Alparaque said.
"Kung mas daghan na new business applications every year (If there will be an increase of new business applications every year), that is much better. Our city is really growing and more investors are becoming interested in putting their business in the city, not only locals but also foreign," he added.
He said if more manufacturers will eye the city as a location for their business, it will imply additional revenue generation.
"Mas better if we have more manufacturers because that will maximize our revenues because the tax of manufacturers is higher compared to retailers. They are also declaring higher gross sales," Alparaque said.
In 2018, the data from the Business Bureau showed the top establishments per business line are the still the retailers (15,709) and services (12,111). This was followed by 5,150 wholesaler and dealers, 3,974 food handlers, and 3,391 lessors.
Other business classifications are manufacturer (1,781), financial institution (1,438), dwelling (1,044), processor (795), amusement (463), medical institution (409), printing press (143), franchise (79), and subdivision developer (52). (LHC)