Why Invest in Cagayan de Oro City
CAGAYAN DE ORO: THE STRATEGIC CHOICE
Consistently ranked by the National Competitiveness Council among the top 10 of the Philippines’ most competitive cities, Cagayan de Oro is the strategic choice to do business. This first-class city has a well-developed infrastructure backbone; excellent connectivity to major production areas and markets through the presence of an international port and multi-berth baseport, an international-standard airport, and extensive inter and intra-city road networks; rich agricultural resources; extensive pool of human resources; and, a diverse range of eco-tourism attractions coupled with a dynamic cultural and arts calendar. The local government of Cagayan de Oro has pioneered in the computerization of business permits and licensing, and assessment and payment of real property tax. Continuing reforms in business permitting and licensing allow optimal ease of doing business in the city.
POWERHOUSE ECONOMIC PERFORMANCE
Cagayan de Oro is the growth driver of Northern Mindanao (Region X) whose economic growth continues to accelerate. Its Gross Regional Domestic Product (GRDP) grew by 7.2% to PhP270.0 billion in 2014, up from its 5.3% growth in 2013. This growth was largely due to the acceleration of the industry and services sectors, which rose by 8.0% and 9.0%, respectively. Agriculture grew at a steady rate of 3.2% and contributed 23.4% to the region’s economy. Nationwide, Region X ranked fifth in per capita GRDP.
Fueling the region’s growth is Cagayan de Oro’s economic dynamism, government efficiency and appropriate infrastructure. Along with Cagayan de Oro’s traditional local industries, new industries utilizing information technology are being established in Cagayan de Oro. The existence of a wide range of industries, from global enterprises to small-and medium-sized manufacturers, is one of Cagayan de Oro’s strengths.
Located at the northern seaboard of the country’s southernmost island of Mindanao, this fast-growing city of more than 600,000 people provides easy access to an enormous concentration of markets in Northern Mindanao.
The Mindanao Container Terminal facilitates direct and cost-efficient movement of containerized cargoes to Manila, Cebu, and international shipping hubs. The multi-berth Cagayan de Oro Baseport handles inter-island passenger travel with connectivity to the country’s nautical highway and the logistics corridors of Mindanao. Laguindigan Airport services air logistics requirements while an extensive inter- and intra-city road network leads to and from the major production areas and markets of Mindanao.
Cagayan de Oro is the veritable city of trade links in Southern Philippines, the entry point for goods to be quickly distributed to a consumer market of 22.0 million, and the most efficient exit for the island’s agricultural and industrial products to its major foreign and domestic markets in Visayas and Luzon. Supply chain companies have located their major depots or distribution centers in Cagayan de Oro and its immediate environs.
The expansion of the Mindanao Container Terminal and the FDC Power Plant will consolidate Cagayan de Oro’s position as the largest logistics center in Southern Philippines.