Mindanao to become a centerpiece of growth

DAVAO CITY: The upcoming 51st Annual Meeting of the Asian Development Bank (ADB) will highlight inclusive growth initiatives for in communities often left out in terms of development in the region.

This was the key message delivered during a second press conference for the Philippines’ hosting of the event — scheduled for May 3 to 6 and expected to be attended by about 3,000 delegates from all over the world — and officials highlighted a renewed effort to develop strife-torn Mindanao.

Finance Secretary Carlos Dominguez 3rd said that while the Asia-Pacific region was leading global economic growth, many communities were being left out.

In the case of the Philippines, he said the government wanted to “move Mindanao from the margins”.

Five of the Duterte government’s flagship infrastructure projects, he added, are located on the island.

These are the P5.4-billion MalitubogMaridagao Irrigation Project Phase 2 in North Cotabato; the P4.86-billion Panguil Bay Bridge project; the expansion and improvement of the Davao International and Laguindingan airports worth P40.57billion and P14.6-billion, respectively; and the 102-kilometer Mindanao Railway Project Phase 1, Segment 1 worth P35.26 billion.

Manila-based ADB, one of the Philippines’ biggest sources of official development assistance, is also investing heavily in Mindanao.

Woochong Um, secretary to the Board of Governors of the ADB, said in the press

conference reflected the that ADB’s the commitment support for Mindanao to remain a key partner of the Philippines.

“Over the years, ADB has been involved and committed in helping Mindanao grow and prosper. And we are here to continue our assistance to this important region,” he said.

“These are truly exciting times for the Philippines. We project the country’s 2018 GDP (gross domestic product) growth to accelerate by 6.8 percent driven by increased investment. ‘Build Build Build’ and the comprehensive tax reforms are excellent initiatives to continue the Philippines’ economic growth,” he added.

In 2017, ADB approved $1.08 billion worth of loans to the Philippines, a record high. One of the projects approved was the $380-million Improving Growth Corridors

in Mindanao Road Sector Project.

Also yesterday, Dominguez said the government was committed to completing the P19.8-billion Davao City Coastal Road and the P98.15-billion Mindanao Logistics Infrastructure Network.

The coastal road project covering 18.5-kilometers is expected to relieve traffic congestion in Davao City. Construction began last year and completion is targeted for 2022.

The logistics network, meanwhile, involves the construction or improvement of 2,567 kilometers of roads across Northern Mindanao, Davao, SOCCSKSARGEN (South Cotaboto-Cotabato-Sultan Kudarat-Saranggani-General Santos City) and Caraga regions. The project is scheduled for completion in 2019.

Ongoing and soon to be roll out projects will make Mindanao a showcase of Philippine growth. Dominguez claimed.

Beginning this year, he said, the government would seek make Mindanao “the spear point of our rapid economic growth.”