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Thursday, February 13, 2003
Government right in spending for Mindanao infra: economist
By Jessica B. Natad
THE national government is on the right track in developing more infrastructure projects in Mindanao, according to an economist.
It is about time that the government looked at Mindanao after neglecting it for 30 years,” said University of Asia and the Pacific (UA&P) School of Economics dean Bernardo Villegas.
The economist was discussing viable investments in the Philippines in the next five years during a recent economic forum.
Mindanao would play a great role in the flourishing of Cebu’s mango processing industry, as the sector sees Mindanao as the country’s future fruit basket,” Profood International Corp. president Justin Uy earlier said.
Profood is a manufacturer and exporter of dried and pureed tropical fruits.
He also said the development of Mindanao had been hampered by the peace and order problems in the area.
In regard to the country’s strengths, UA&P’s Villegas said the country could excel in sectors that needed educated and English-speaking manpower.
The country’s large domestic market, its strategic location in East Asia, and the cheerful disposition of the Filipinos are other strengths that can be used to attract investments into the country, he said.
Villegas said based on these strengths, the sunrise industries in the country are transport, telecommunication and tourism; food, furniture and fashion; information technology (IT)-enabled services, electronics and semiconductor, logistics and educational services.
The government must, however, address the country’s weaknesses, which include corruption, poor infrastructure, terrorism and kidnapping, political squabbling, and the country’s high rate of poverty, Villegas said.
(February 13, 2003 issue)
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