MinDA Assistant Secretary Romeo Montenegro. MindaNews file photo by ANTONIO L. COLINA IV
DAVAO CITY (MindaNews / 25 January) – Mindanao will sustain its economic momentum despite the recent travel advisories issued by the Canadian government against travel to most parts of the island, an executive of the Mindanao Development Authority (MinDA) said.
During “Wednesdays Media Forum at the Habi at Kape,” MinDA Assistant Secretary Romeo Montenegro said he believes Mindanao would sustain the interests of the prospective investors to look at the island as a viable investment destination as demonstrated by the increased investment inflows last year.
Montenegro said Mindanao is continuously recovering from the adverse impact of the Covid-19 pandemic that caused investment inflows to drop to less than P10 billion from 2020 to 2021 compared with P50 billion to P60 billion annually before the pandemic.
He said they have yet to get the overall figures for last year but “we are seeing an upward trend of investments to Mindanao.”
Mindanao is composed of six regions – Zamboanga Peninsula, Northern Mindanao, Davao Region, Soccsksargen, Caraga, and the Bangsamoro Autonomous Region in Muslim Mindanao.
“Even against the backdrop of some travel advisories, we are still confident that this will not impact on the continuing interests of many investors and tourists exploring the beauty and bounty of Mindanao,” he said.
He said Mindanao has been forecast to hit the growth rate targets of 6-6.5 percent for 2023 and 6-7 percent for 2024.
“We are confident of being able to see that figure being realized because of sustained interest of many investors and improved logistics network in many other areas and the increased interest of many of our communities in the agribusiness areas to improve production because of increasing global demand for many of our Mindanao commodities,” he added.
He said the better outlook for Mindanao gives “encouragement and confidence that things are doing well in terms of interest and confidence of our investors to continue to see Mindanao as a viable investment destination.”
Dr. Adrian Tamayo, public relations division chief of MinDA, said MinDA Secretary Maria Belen S. Acosta plans to meet with Canadian Ambassador David Hartman along with representatives from the Philippine security sector.
“Wala pa po na fix na (There is no fixed) schedule po for the meeting. Very surely, they will talk on the travel advisory and the mechanisms by which it was derived because, as to the MinDA Secretary, Secretary Acosta that the advisory does not reflect the real situation on peace and security in Mindanao,” he told MindaNews.
The Canadian government advised its citizens to avoid all travels in the Sulu archipelago, comprising the provinces of Basian, Sulu and Tawi-Tawi which are part of BARMM, due to the “presence of extremist groups, serious threat of attacks, kidnapping, piracy and violent clashes between security forces and rebel groups.”
On the basis of “serious threat of terrorism, kidnapping, high levels of crime, and violent clashes between the security forces and rebel groups,” a similar travel warning was issued against travel to Lanao del Sur and Maguindanao in BARMM; Bukidnon, Camiguin, Lanao del Norte, Misamis Occidental, and Misamis Oriental in Northern Mindanao; Cotabato, Sarangani, South Cotabato, and Sultan Kudarat in Soccsksargen; and Zamboanga del Norte, Zamboanga del Sur, and Zamboanga Sibugay in Zamboanga Peninsula.
It also advised citizens to avoid non-essential travel to Agusan del Norte, Agusan del Sur, Dinagat Islands, Surigao del Norte, excluding Siargao Island, and Surigao del Sur in Caraga; and Davao de Oro, Davao del Norte, Davao del Sur (excluding Davao City), Davao Occidental, and Davao Oriental in Davao Region. (Antonio L. Colina IV/MindaNews)
