DAVAO City and Davao de Oro are the wealthiest city and province in Mindanao, respectively, in terms of assets, based on a financial report by the Commission on Audit (COA).
According to COA’s “2021 Annual Financial Report (AFR)”, Davao City’s total assets increased to P26.555 billion from P23.664 billion in 2021, P19.78 billion in 2020, P16.259 billion in 2018, P13.181 billion in 2017, and P9.898 billion in 2016.
The city, however, moved down a notch from last year’s ninth spot.
This is the city’s sixth year as the richest city in Mindanao.
According to the COA report, the leading city assets-wise is Quezon City, having total assets worth P451.007 billion. This is a slight decrease from P452.333 billion in 2020.
Meanwhile, Davao de Oro remains the fourth richest province in the country with assets of P23.211 billion. This is an increase from P20.391 billion in 2020.
This is the fifth year the province entered the list.
Cebu Province remained the wealthiest province in the country, with a total of P215.27 billion worth of assets.
No municipality from Mindanao made it to the top 10 wealthiest towns in the country. RGL