Monday July 23, 2018

Minda official: Mindanao performing well

A MINDANAO Development Authority (Minda) official believes that Mindanao, being agriculture-oriented, is performing well despite some current economic challenges around the country.

Minda Assistant Secretary Romeo Montenegro said the agricultural products of Mindanao are not necessarily affected by external concerns and can still go on operating despite the felt economic challenges in other parts of the Philippines and abroad.

Montenegro said various challenges in the world economy are currently apparent in the form of stocks prices being challenged and peso to dollar exchange rate unfavorable with the country’s debt obligation.

“But at the end of the day, you look at the peculiarity of Mindanao. Number one, we are an export-oriented economy particularly of our agriculture. Number two, our products are not affected by external factors meaning to say if exports of microchips in the semiconductors being assembled in Cavite declined as a result of economic climate happening adversely in other countries, they (importing countries) will continue to eat our bananas, our pineapples, our tunas, and many other agricultural commodities,” said Montenegro.SEE MORE