Still emerging from the COVID-19 pandemic, the economies of both the Davao region and the BARMM appear to be on the upbeat, as new investments start to come in and renewed business confidence are buoying spending.
The fastest growth was noted in the accommodation and food sector , the transportation and storage sector , and mining and quarrying , the PSA report showed.
Under the DRDP , Davao region seeks to position itself as an international logistics hub in southern Philippines by increasing the efficiency of its intermodal and integrated transport system connecting different parts of Mindanao, Lim said. BARMM, on the other hand, posted a 6.61-percent growth in its regional economy in 2022, which amounted to approximately P280.3 billion, according to the PSA data.
In the first five months of this year, the Board of Investments in the BARMM already posted P2.7 billion in investments, exceeding its P2.5-billion target for this year, said Bangsamoro BOI chair Mohammad Pasigan.Your subscription could not be saved. Please try again.
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