PHOTO CAPTION Michael Angelo Resueño, acting office-in-charge of the Panabo City Economic Development and Investment Promotion Office, discusses how to establish Panabo City as an agricultural investment hub during their Investment Forum at Anflo Industrial Estate on Tuesday, November 11, together with the Panabo Chamber of Commerce and Industry and the City Government. (Photo via Ivy Tejano / MB)
By Ivy Tejano
PANABO CITY, Davao del Norte – The Panabo City Economic Development and Investment Promotion Office is working to establish itself as an agricultural investment hub, aiming to attract more investors and foster local industry growth.
Michael Angelo Resueño, acting office-in-charge of the CEDIPO, announced this during their Investment Forum at Anflo Industrial Estate on Tuesday, November 11, together with the Panabo Chamber of Commerce and Industry and the City Government.
Dr. Reynaldo Gulane, president of the Panabo Chamber of Commerce and Industry, said the forum was organized to highlight the importance of investment promotion and education among stakeholders in celebration of Investor Protection Week.
Resueño said Panabo City is aligning its growth roadmap to become an agricultural investment hub, as the city government continues to intensify efforts to attract investors and strengthen its local industries.
The Investment Promotion Roadmap outlines a clear set of strategies, programs, and activities to attract local and foreign investors, guiding the local government unit in bringing in, retaining, and expanding major businesses.
“We want our manufacturers here to source products locally instead of going elsewhere,” Resueño said, adding that they are working with the City Agricultural Office and the Department of Agriculture to diversify crops, such as corn, cacao, and coconut.
Resueño also noted that, despite tariff issues, the city continues to see an increase in small and medium-sized enterprises, while export activities remain strong and active. He said they are looking forward to seeing a more progressive city.
Panabo City is located along the Daang Maharlika (Pan-Philippine Highway), between Davao City and Tagum City. It continues to position itself as a significant investment destination in the Davao Region.
Councilor Omar Ranain added that the city’s economy is diversifying, with local companies now recycling plastics collected from Cagayan de Oro City, Butuan City, and Surigao for export to Malaysia and Thailand.
Gulane said Panabo’s new status as a first-class city requires stronger efforts to stay competitive, noting its high rankings in resiliency, economic dynamism, infrastructure, innovation, and government efficiency in the Philippine Competitiveness Index.
He added that the city’s investment plan focuses on socioeconomic, infrastructure, and environmental projects, including agriculture, tourism, technology, renewable energy, and flood control facilities.
Preferred Investment Areas (PIAs)
The city government identified several PIAs, including:
Mangrove Park Development at the Lasang River in Barangay JP Laurel
Mariculture Park and Bay Walk Facilities at Barangays Cagangohan and San Pedro
Upland Eco-Tourism Development at Barangays Mabunao and Kiotoy
Water Supply Facilities
Sports Complex Development
Establishment of the Integrated Market and Terminal
Establishment of Agri-Trade Center
Reclamation Projects
Residential and Commercial Property Development under the Comprehensive Land Use Plan
Public-Private Partnership (PPP) projects
According to data provided by the organizers at the forum, Panabo City offers a range of fiscal incentives, including business and absolute property tax exemptions that last from three to ten years, depending on the project classification and location—urban, nodal growth center, or rural.
Highly technical and preferred investment projects can receive up to 10 years of incentives, with tax reductions ranging from 25% to 75%. The city also provides non-fiscal incentives, such as:
One-stop business licensing facilitation
Assistance in site identification and regulatory compliance
Labor recruitment through the Public Employment Service Office (PESO)
Access to trade fairs and investment promotions
Assurance of peace and order
When it comes to sustainable and inclusive growth, Gulane said the city’s development strategy is anchored on the Sustainable Development Goals, with programs targeting youth, senior citizens, and other city residents.
He cited that the city has around 40,000 youth voters, prompting the Public Employment Service Office, Department of Labor and Employment, and Technical Education and Skills Development Authority to collaborate on skills and employment programs.
Resueño emphasized that under the investment policies, at least 70 percent of the workforce in all business establishments must come from Panabo to ensure that residents directly benefit from the investments contributing to the city’s inclusive and sustainable economic growth.
For the third quarter of the year, Gulane said the Panabo City Treasurer’s Office reported a 78 percent revenue performance and 55 percent financial achievement, indicating a stable and satisfactory fiscal position for the city.
