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The emergence of the Business Process Outsourcing (BPOs) boosts the economic growth of Davao Region this year.

In the 2008 Report on the Economy of Davao Region, it showed that Davao Region ranked third in Mindanao with 3.7 percent growth rate.

Northern Mindanao came first with 5.3 percent growth rate followed by Socsksargen with 4.6 percent.

National Economic and Development Administration (NEDA) assistant regional director Atty. Bonifacio Uy said Davao Region has the competitive advantage and could even exceed the growth of North Mindanao in 2009.

Investments in BPOs remain upbeat with commitments reaching P1.9 billion to include expansion of two major players by at least 1,200 call center seats within the third quarter of the year, Uy said.

Industry player of the Information Technology (IT) sector earlier reported that aside from the 13 big and medium- sized BPOs operating in the city, two more big players are planning to transfer here.

Major BPO players that earlier established its branches in Cagayan de Oro City had transferred to Davao City, ICT Davao City Could board of advisers Andrei Fournier said.

Aside from the entry of more BPOs, Uy said, mining and agriculture are posting positive performance with proposed establishment of water generating plants and additional power generating plants.

Real estate will flourish given the private companies' commitment to set-up mid-rise condominiums, he said.

Agricultural production, especially for exports, will also improve to meet the demand of the additional and new markets, he also said.

Uy also said the region's exports are expected to remain stable especially for banana, pineapple, mango and coconut products.

Tourism industry will also accelerate, he added. (PNA)

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