Sunday, December 6, 2020

Davao Mayor’s SOCA Highlights Investment Growth

Davao Mayor’s SOCA Highlights Investment Growth

Spotlight

Republic Cement Launches Co-Processing Solution Amid PH Waste Management Crisis

Through ecoloop, Republic Cement aims to help address the waste management crisis of the country.

Globe Recreates The Holiday Season With #ChristmasWeLove Live Pop-Up

Join Globe as they celebrate the holiday season with #ChristmasWeLove - a series of live digital pop ups featuring fun activities for your family and friends!

Recreate The Holidays Right At Home Best With Globe At Home Unli Plans

Make your virtual get-togethers possible with Globe At Home UNLI Plans!

SM – Pasay Tech Voc Scholarship Program Launched

With the launch of the SM - Pasay Tech-Voc Scholarship Program, a full tech-voc scholarship will be awarded to 20 students from financially challenged families.

Mayor Sara Z. Duterte highlighted the growth of investments in the city during her State of the City Address (SOCA) on Monday at the Sangguniang Panlungsod building.

She reported a 3-year accomplishment under the “Byaheng Do30” project which she said has “capped a healthy economy”.

She said the investments have continued to grow in the past three years with a total investment portfolio of PHP230 billion in 2016, PHP272 billion in 2017 and PHP279 billion in 2018.

As a result, the growth in investments resulted in higher revenue collections and the opening of more job opportunities in the city.

“We have more local taxes collected, and the city is on its way to surpass the internal revenue allotment (IRA) as the main fund source to finance a project.

The goal is to limit our dependency on the internal revenue allotment or IRA so that we can finance more programs that are not among those restricted for IRA use,” she said.

For 2018, the city has again surpassed its revenue collections with PHP8.5 billion continuing the upward trend since 2016. In 2016, the total collection was PHP6.3 billion and in 2017, it rose to PHP7.2 billion.

“In the first half of 2019, we already saw an 11 percent increase with PHP5.5 billion compared to the PHP4.9 billion of the same period last year,” she added.

Duterte said the recorded increase in the total collection of taxes, fees, and other charges for CY 2018-2019 was due to the implementation last year of Ordinance No. 0291-17, series of 2017, otherwise known as the 2017 Revenue Code.

She also reported that the decrease in the “Fines and Penalties on Local Taxes for 2019” showed that the taxpayers complied with their obligations to the city government.

“The increasing economic activity year-on-year translates to more employment opportunities and increased the purchasing power of the Dabawenyos. Furthermore, the healthy fiscal condition of the Davao, along with the constant support of the private sector, paved the way for the funding various programs and projects,” she added.

Though she has not elaborated further details, she said the debt servicing of the city is nearing its completion which would make the city debt-free by 2022.

“These gains were not achieved by the local government alone, but by all Dabawenyos working together,” she said. (PNA)

Latest News

Workers Reminds Employers Of 13th Month Payment Deadline Is Dec. 24, 2020

Employers nationwide across all industries are obliged to pay the mandatory 13th month pay of their employees on or before its deadline on or before December 24, 2020.

Ilocos Norte Provides Free Shuttle Service For Laoag Workers

Coasters from the provincial government of Ilocos Norte are on standby in major borders of this city on to help ferry essential workers who commute daily to work at the downtown area.

Cha-Cha Cañete Keeps Christmas Alive With New Single “Pasko Pa Rin”

Muling nagbabalik ang Goin’ Bulilit star na si Cha-Cha Cañete with her new Christmas single “Pasko Pa Rin”.

Kira Finds Out About Sam’s Child With Jodi

Catch Ellice and Marissa as they square off in the coming episodes of "Ang Sa Iyo Ay Akin," airing nightly at 8:40 PM on A2Z channel.

Cebu City To Distribute 15K Cash Cards To Seniors This Month

The Land Bank of the Philippines (LBP) on Thursday turned over to the city government of Cebu around 15,000 cash cards to be distributed to senior citizens this month.

Republic Cement Launches Co-Processing Solution Amid PH Waste Management Crisis

Through ecoloop, Republic Cement aims to help address the waste management crisis of the country.

Army Helps NorMin Farmers With Alternative Market

With the opening of farmers’ market inside 4ID's Camp Evangelista, local farmers from Northern Mindanao can now profit more during the Yuletide season.

Globe Recreates The Holiday Season With #ChristmasWeLove Live Pop-Up

Join Globe as they celebrate the holiday season with #ChristmasWeLove - a series of live digital pop ups featuring fun activities for your family and friends!

Recreate The Holidays Right At Home Best With Globe At Home Unli Plans

Make your virtual get-togethers possible with Globe At Home UNLI Plans!

Rep. Salceda Releases Statement On Jobless Rate Reduction In PH

“As a representative of a typhoon-ravaged province, I will tell you, we need urgent help. Our LGUs fiscal reserves are exhausted. We can no longer wait for 2021,” says Albay 2nd district Rep. Joey Sarte Salceda.