- Advertisement -

By Geefe Alba
Correspondent

GIVEN its growth, this city is becoming an attractive capital spot for investors especially in the food and service industry.

- Advertisement -

“The food business is one of the sectors that is fast growing. People are looking for affordable but delicious eats. For the young people on the go, cheap, satisfying servings would definitely be a hit,” said Ma. Eliza Pabillore, Department of Trade and Industry director for Misamis Oriental.

Pabillore said the growing demand for reasonably priced food is a good sign of the city’s economic progress.

“For the more discriminating market, there is a growing trend for reasonably priced delicious treats with healthy options for the health conscious,” added Pabillore.

Newcomers in the food and service industry are bullish on the city’s economy like the French-inspired bakery called HoneyBear that just opened its first branch outside Metro Manila.

The firm said it is confident of the growing market here.

“This is the first branch that the company has opened in Mindanao and outside of Metro Manila. There’s no branch yet in the Visayas area,” said Lorena Cecilia Abit, manager of HoneyBear.

The bakery targets the hip crowd with pictureeady freshly baked goods that attract customers who opt to make instant posts on social media before consuming their food.

A young company that started in 2016, HoneyBear sees a growing potential of its target market. Its pastry items have a price range of P50 to P200.

It also does not put preservatives in their pastries. “Our products are freshly baked and they have to be consumed immediately after purchase,” said Abit. She added that customers can also look up at the expiry dates of their baked items.

This year, a number of new commercial establishments have opened here, including a bigger branch of SM mall that has strategically placed itself at the center of the city’s business district.

“Cagayan de Oro is one of the fastest growing urban centers in the country today.  Its population is also rapidly expanding and with employment and business opportunities that come with this development, purchasing power is also increasing,” said Pabillore.

In the 2017 second quarter regional economic situationer report of Northern Mindanao from the National Economic Development Authority, the region posted P4.6 billion investments which was 26 percent higher than the same quarter last year.

In the same report, Misamis Oriental posted the highest share of investments attributed from the construction industry which was noted at more than half of the region’s total investments.

Disclaimer

Mindanao Gold Star Daily holds the copyrights of all articles and photos in perpetuity. Any unauthorized reproduction in any platform, electronic and hardcopy, shall be liable for copyright infringement under the Intellectual Property Rights Law of the Philippines.

- Advertisement -