DAVAO Region's gross regional domestic product (GRDP) is expected to grow from 10.15 percent to 11.5 percent by 2022, an official said.
Maria Lourdes Lim, regional director of the National Economic and Development Authority (Neda)-Davao, said the region was able to grow by 9.4 percent in 2016 and with the Davao Regional Development Plan (DRDP) 2017-2022, the Regional Development Council (RDC)of Davao Region targets that the region will grow by as much as 11.5 percent in 2022.
"In the RDC, we see this (GRDP) as achievable. Among our primary strategies is to anchor our growth on agri-industrial development and also bridging on the Build, Build, Build program of our president," Lim said on Friday, July 7, during the press conference on the DRDP at the SMX Convention Center, SM Lanang Premier, Davao City.
She said with the medium term plan they are pushing for the implementation of big ticket projects that are seen to contribute to the region's growth.
"The projects will spur employment and entice investments," Lim said.
The Mindanao Railway Project, improvement of the Francisco Bangoy International Airport, Davao Food Exchange Complex, and the Davao-Samal Bridge are just among the big ticket projects that will be implemented in Davao Region in the coming years.
Lim said they are hoping to increase the contribution of the industry sector in the GRDP of the region by 2022. At present, the services sector is the one powering the region's growth with a contribution to the GRDP at around 60 percent.
"Currently, the services sector has been contributing the bigger slice of our GRDP. But we hope to event this out because our growth will become more sustainable if our GRDP would be sourced from the industry sector, particularly manufacturing," she said.
"We have to develop the manufacturing sector because it has the greatest multiplier effect, it has the most potential for creating jobs, raising income, and raising productivity," Lim added.
Meanwhile, the Davao RDC launched on Friday, July 7, the DRDP 2017-2022, Davao Region's blueprint for development.
"The DRDP anchors on the President's 0+10 Socioeconomic Agenda, the Sustainable Development Goals and works towards realizing AmBisyon Natin 2040, the collective vision of Filipinos over the next 25 years," RDC said in a statement.
Aside from the GRDP target, the DRDP also targets to reduce the poverty rate to 13.6 percent in 2022 from 16.1 percent in 2015.
"Other targets are higher trust in government and society, more resilient individuals and communities, and a greater drive for innovation," RDC said.