THE country's hosting of this year's Asean will prove to be a vital economic step for the Duterte administration as it focuses on getting the much needed investments to assure the delivery of services by government to its constituents.
Being strategically located, the country's Economic Zone Authority or PEZA views the hosting of Asean as an expansion initiative to develop potential economic zones in the Mindanao, Vizayas and Luzon area following the concept of Texas Instruments and MOOG controls located in the countries summer capital.
Economic Zone Authority Director General Charito Plaza explains the importance of potential land areas in the Philippines owned by the local government units, private land owners and even public lands to be protected and enhanced to help generate employment by establishing various industries needed by foreign investors.
PEZA's goal is to use idle lands to be productive since every type of land has a purpose. This generally is a signal by the national government to local government units to positively enhance its existing land use plans.
For the Cordillera Administrative Region, Plaza emphasizes a broader vision for it to be an Eco-tourism zone to increase the tourism potential of the region, and eventually helping the country to be an International Tourist destination.
This aside from the creation of a mineral processing zone to service the mining industries found in the Cordillera centering on the refinement of its mineral deposits, eventually helping communities to be viable.
And the full development of its Argo-industrial market to not only maximizes its capacity to export rather than import.
This capacity if followed by other soon to be identified economic zones may propel the economic identity of the country to be a highly potential industry distributor in the Asia-Pacific region.
But of course, aside from national incentives, local government units must present their local incentives to prospective industries to put up by foreign investors, to give equal equity.
An Eco-zone map identifying economic zones in the country is set to be presented during the Asean Summit together with a corresponding Master Plan for a better perspective by potential investors.
And since the President is seen by foreign nations to possess a high level of courage and credibility in his quest to acquire generally peaceful and orderly country through a transparent administration of governance, then the economic potential of the country may see a marked improvement.