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Monday, September 20, 2004
Armm's ecozone pushed to boost region's econ
By Jenny Molbog-Mendoza
THE Autonomous Region in Muslim Mindanao (Armm) pushes for the creation of the Regional Economic Zone Authority (Reza) to boost the region's economy.
Lawyer Zainudin Malang, Armm-Reza consultant, presented before the participants to the 13th Mindanao Business Conference (13th Minbizcon) held September 15-17 in Davao City, the benefits and incentives that Armm could get out of having an economic zone (ecozone) in the region.
An "ecozone" is defined as an identified area, or areas as the case may be, which will be in focus for extensive investments in trade, commerce, technology,
banking, manufacturing, among others.
The establishment of Reza in the region indicates it has the mandate to register, establish, and grant incentives to special economic zones.
In his presentation, Malang cited a certain study by the Economic Research Department of the Asian Development Bank, which showed a direct co-relation between the number of ecozones and the level of development of various regions in the Philippines.
"With this regard, the 1st Armm Business Congress held in 2002 called for the establishment of ecozones in the region as a critical initiative improving the investments climate," he said.
Malang said that Mindanao has rich resources, but still a lot of its areas have low-level economic activities, resource-utilization, employment and income, and revenue generation.
"Therefore, the Reza aims to replicate the successful example of the Philippine Economic Zone Authority (Peza) in addressing these issues. Having a Reza in the region would mean added income and further utilization of resources," he explained.
Malang said the challenge to the Reza is to fashion and design its own ecozone model that is attuned to the environmental considerations of the Armm region.
"If the Reza will be able to create a suitable ecozone for Armm, it will have a good impact on the economy of the said region," he said.
Among the projected impact of the Reza on the economy of Mindanao, particularly in Armm, are the increase of economic activity that will result in increased levels of employment and income for the private sector; higher revenues for the regional and local government units; greater use of the region's resources; the transition of the business sector from trading to production activities; and the encouragement existing large industries in Armm to either expand or set up new businesses.
The Reza is to be completed next year.
(September 20, 2004 issue)
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