BOI-approved investments in Minda soar to P91.4B in 2011

BOARD of Investment-approved investments in Mindanao surged up to 663 percent in 2011 at P91.43 billion compared to P11.98 billion in 2010.

In her report at the opening of the 1st Mindanao Development Forum (MDF) Friday at the Marco Polo Davao, Secretary Luwalhati Antonino of the Mindanao Development Authority (Minda) said that of the P91.43 billion, 99 percent of the equity is locally driven.

Antonino also reported that 94.88 percent of Mindanao's labor force is employed. Of the 20 people aged 15 to 64 in Mindanao, 19 are employed.

But, of the 19, 15 of them are underemployed, Minda reported, quoting data from the National Statistics Office (NSO).

Mindanao also fared well over the last two years, especially on good governance because of improved peace condition, improved investment climate and good macro-economic performance.

During the opening day, Minda also outlined the proposed major Mindanao road projects, some of which are now undergoing construction.

Aside from Antonino, also gracing the opening day of the two-day conference were Secretary Arsenio Balisacan of the National Economic and Development Authority (Neda), Miriam Coronel-Ferrer, chair of the GPH-MILF peace panel; Secretary Teresita Deles of the Office of the Presidential Adviser on the Peace Process.

Antonino said all the output of the MDF will be tackled in the coming Philippine Development Forum (PDF) from February 4 to 5 also at the Marco Polo Davao.

President Aquino is expected to arrive in Davao City to grace the closing of the two-day meet organized by the Department of Finance (DOF).

"By holding the first ever MDF close to the Philippine Development Forum or PDF, we hope to be able to meet the parallel objectives of presenting substantial Mindanao perspective in the overall national development direction," Antonino said in her opening day statement.

"As we conduct the MDF today, we seek for policy support, strategic inputs, consensus and commitments for Mindanao's accelerated and sustained development. It is our shared aspiration that these policies, plans and commitments will be translated into doable items in the country's overall agenda, in line with President Aquino's social contract with the Filipino people," she added. (CRAM)