SENATOR Francis “Chiz” Escudero hailed business tycoon Hans T. Sy for the SM Group’s planned expansion in Davao and other parts of Mindanao, saying the move will further accelerate growth in the region.
At the same time, Escudero expressed hope that Sy’s confidence in Mindanao’s economy will inspire other major investors to follow suit and pour in fresh ventures across the island to generate jobs and increase economic activities.
Escudero said Sy’s remarks during his visit to Davao City over the weekend, where he cited Mindanao’s promising growth and pledged to pour in more investments, “reflect the kind of private‑sector engagement needed to spread development beyond traditional economic centers.”
“Hans Sy’s decision to expand further in Mindanao shows clear confidence in the region’s potential. If we want development to be truly national, we need more tycoons and major business groups to look toward Mindanao and the Visayas, not just the usual economic centers,” he said.
Sy, who chairs the executive committee of SM Prime Holdings, was in Davao to inaugurate National University Davao, its first campus in Mindanao, and the university’s 15th nationwide.
The business magnate said he was “more encouraged” to expand the SM Group’s footprint in the island after seeing the rapid transformation of Davao City and the strong performance of several Mindanao regions. Escudero said the government should actively support investors who choose to build outside Metro Manila by ensuring stable policies, reliable infrastructure, and predictable regulatory processes.
He reiterated that broad‑based development requires both public and private‑sector commitment, adding that Sy’s announcement is a “positive signal” that should encourage similar initiatives from other major business groups to help generate jobs and accelerate economic activity across the country.
