THE Regional Development Council (RDC) of Northern Mindanao region endorsed the updated Regional Development Plan (RDP) for the years 2013-2016 during a special RDC meeting in
Cagayan de Oro City last week.
RDC-Northern Mindanao Vice chairman Leon M. Dacanay Jr. presented the updated plan, which outlines the major thrusts and priorities the region shall pursue until 2016 in its bid to become the most competitive, efficient and attractive transshipment hub in southern Philippines.
In asserting its role as the major gateway and industrial core and trade center in the south, strategic actions shall be pursued on good governance; access, logistics and other infra services; trade, industry and tourism; environment and sustainable development; well–being and social services; agriculture, fishery and forestry; and youth empowerment and basic education – with science, technology and innovation as cross-cutting strategy.
Dacanay also presented the region as the fastest growing economy in Mindanao averaging at 5.8 percent annually in the last 10 years posting a Gross Regional Domestic Product (GRDP) value of P239.7 billion in 2012.
Compared with the rest of the regions in Mindanao, Northern Mindanao leads in agriculture production, has the biggest industrial sector, and produces the highest output in manufacturing.
Domestic trade is also highest in the island and fourth highest in the country.
He added that Northern Mindanao is at the threshold of full employment with an average of 95 percent employment rate over the past three years. Some 44 percent of the region’s labor force is engaged in agriculture; 11 percent in industry and 47 percent in services.
Also cited are the region’s comparative advantages including its strategic location; vast agricultural lands and rich natural resources; huge potential for industrial development; presence of power generation service; peace-loving people; and skilled and literate workforce.
Dacanay also posed development challenges confronting the region, which include among others, poverty amid growth and low labor productivity in traditional employment generators.
Thus, development priorities will be focused on improving productivity and competitiveness; creating massive and decent jobs; strengthening labor-intensive sectors; diversifying industries and products; building a sound financial sector; and promoting the strategic development areas (SDAs).
Priority focus areas (PFAs) are also identified which look at industries and commodities of which the region has comparative and competitive advantages.
The region’s economic performance is expected to be impressive growing between 8.5 percent to 9.5 percent by 2016, higher than the set national target of 7.5 percent to 8.5 percent. This high growth when sustained should provide equalized development opportunities, more decent jobs and consequently reduce poverty and achieve inclusive growth.
The body also approved and endorsed the RDC-X Work and Financial Plans in support to the Council’s priority development thrusts for the year 2014. (PIA)