CAMP EVANGELISTA, Cagayan de Oro, April 26 City – Northern Mindanao ranked seventh among the fastest growing regional economy in the Philippines; second in Mindanao after Davao Region based on the media forum of the National Economic and Development Authority (NEDA 10) held April 25, 2019 in Cagayan de Oro City.
The activity was spearheaded by NEDA 10 Director Mylah Faye Aurora Cariño and participated by Wilma Guillen, assistant national statistician of the Philippine Statistics Authority (PSA), PSA X chief Janith Aves, representatives from other government agencies in the region and members of the media.
Based on the presentation of Dir. Cariño, the 2018 Gross Regional Domestic Product (GRDP) of Northern Mindanao has increased to 7% from 5.8% in 2017.
“Among the three major economic industries, Services like manufacture, transport, and communication remained to have the largest share of the region’s economy with 44.1%, followed by Industry 35.6% and Agriculture, Hunting, Forestry, and Fishing with 20.3%”, Cariño said.
Also, the poverty of Northern Mindanao drastically decreased from 35% in 2017 to 25% in the 1st semester of 2018.
Dir. Cariño added that if the region wants to continue with its economic growth, peace and security must be maintained and prioritized. “Peace, public security and safety must be number one on our considerations in order for Northern Mindanao to continue its growth. If we won’t have public law and order we will lose investors and the economy will significantly decrease,” Cariño emphasized.
Maj. Gen. Franco Nemesio M Gacal, commander 4th Infantry “Diamond” Division said, “I am very happy that the 4th ID has contributed in the increase of the economy of Region 10 in 2018 by upholding peace. We assure our people that 4ID will continue with our mandate in pursuing long-lasting peace and development in Northern Mindanao and in CARAGA region.”
Gacal also said, “I am confident that Region's Convergence Areas on Peace and Development (CAPDev) will be able to help Northern Mindanao in its growth into becoming developed and conflict-resilient.”
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