Sec-Davao records 982 new firms

Subscribe Now July 18, 2013 at 09:32am

A TOTAL of 982 new companies have registered for the first six months of the year, the Securities and Exchange Commission (SEC)-Davao City Extension Office reported.

The number represents an increase from the number of new companies that registered for the same period last year at only 902.

Lawyer Javey D. Francisco, SEC-Davao director, said the hike showed how confident investors are today in venturing into business.

Francisco said 78 newly-registered companies under partnership had a total contribution of P43.9 million, which is higher than the P26.6 million contribution among 52 total companies that registered in 2012.

A total of 418 organizations were also registered for the first half of the year with a total contribution of P43.5 million, much lower to last year's 466 with a total contribution of P76.5 million.

Francisco said that 60 percent of the companies registered ventured into wholesale, retail and trading while the other 40 percent are companies who ventured in real estate development and agricultural development which includes plantations.

He said that only a few invested in industrial and agricultural because of the global competition.

He added that 65 percent of this year's total registration was accounted to Davao City.

The other 15 percent were from General Santos City, 15 percent from Tagum and Panabo City while the remaining five percent were from the registrations in the regions of Soccsksargen, Surigao del Sur, Agusan del Sur, Maguinadanao, Sultan Kudarat, and portion of Cotabato.

Francisco said businessmen are confident to invest in Davao City because of its stable economic activity and peace and order. He also said that the stability of the Philippine economy also attracted more investors to venture into business.

On the other hand, he said that General Santos also has high registration of new companies because of its strategic location and is considered as the next largest city for investment based on their data.

Source: sunstar.com.ph



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