Davao City got highest in new registered corporations/partnerships in Mindanao area for 2008

Davao City raked in the highest number of new registered corporations and partnership that were served by the Securities and Exchange Commission Davao extension office in 2008.

SEC Davao head Atty. Javey Francisco said the city cornered 314 new businesses of the 464 corporations that registered with their office last year around Mindanao.

General Santos City followed next with 36 then Tagum City with 18. Fourth in the row were Mati City, Koronadal City and South Cotabato with nine new registered corporations each.

Cotabato City ranked fifth with eignt while Davao del Norte on the seventh with six. Panabo City and Digos City came next with six new registered corporations and partnerships. Davaod del Sur had five while Davao Oriental, Surigao del Sur and Mati City with four each and Agusan del Sur, 3.

The Compostela Valley Province and the cities of Malaybalay, Bislig andButuan had two each. Only one new corporations registered in the Island Garden City of Samal, North Cotabato, Lanao del Sur, Surigao City, Midsayap and Cagayan de Oro City.

Francisco said the 464 corporations had a paid-up capital of P215.4 million which came lower by 38 percent or P134 million compared to the P349.8 million in 2007. He said of the new corporations last year, Davao City’s businesses for paid-up capital accounted to P124.6 million while General Santos City at P27.4 million and Tagum City, P21.5 million.

Meanwhile Francisco said with regards to foreign direct investments (FDI) of 80 new businesses with paid up capital of P15.177 million, Davao City still got high with 67 corporation and paid up capital of P11.4 million. General Santos City had 3 of P1.1 million, Davao Oriental, 2, P1.036 million, Koronadal City, 2, P1.250 million.

He said according to nationalities, the Chinese top the list followed by Korean and Dutch.


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