Re­cently, Min­danao has been catch­ing up with the rest of the coun­try in terms of de­vel­op­ment

Sun.Star Davao - - VIEWS - BY ROLLY LAMEDA

Min­danao has al­ways been left be­hind in terms of eco­nomic growth and pros­per­ity com­pared to Lu­zon and Visayas. This is be­cause the num­ber of in­vestors in Min­danao is low com­pared to the other two is­land groups.

Statis­tics from the World De­vel­op­ment In­di­ca­tors of World Bank dis­played that Min­danao's av­er­age growth since 1975 to 2014 was 3.4 per­cent. How­ever, Lu­zon has 4.1 per­cent, and Visayas has 3.9 per­cent; the Na­tional Cap­i­tal Re­gion with 4.3 per­cent and the na­tional av­er­age of 3.9 per­cent.

With few in­vestors in Min­danao, un­em­ploy­ment and poverty are vis­i­ble leav­ing some peo­ple in Min­danao de­prived of lux­u­ri­ous life.

The Philip­pines Min­danao Jobs Re­port also spec­i­fied that in year 2012, 3.7 mil­lion fish­er­men and farm­ers were con­sid­ered liv­ing near poverty line and 1.2 mil­lion were food-poor, 1.1 mil­lion were cat­e­go­rized as poor, and 1.4 mil­lion were al­most poor.

En­trepreneurs and for­eign in­vestors are ter­ri­fied in in­vest­ing their money in Min­danao due to the threats and se­cu­rity rea­sons. The fear of bank­ruptcy made the in­vestors pre­fer to cap­i­tal­ize in Lu­zon and Visayas. They feared that if they choose to in­vest in Min­danao their money will dis­ap­pear like bub­bles.

Right now, Duterte's ad­min­is­tra­tion is putting ex­tra ef­fort in invit­ing for­eign and lo­cal in­vestors to in­vest in Min­danao. He even promised to de­velop a friendly en­vi­ron­ment for busi­ness as he wanted more in­vest­ments in Min­danao.

Pres­i­dent Duterte said in his speech that he as­sures the pri­vate part­ners in tak­ing mea­sures in guar­an­tee­ing easy busi­ness in Min­danao. He also said that he in­tended to es­tab­lish an en­vi­ron­ment that is more con­ducive for in­vest­ments to flour­ish and for ex­ist­ing busi­nesses to grow.

Ac­cord­ing to the data con­ducted by Prime Philip­pines Re­search and Con­sul­tancy on the will­ing­ness of the in­vestors to in­vest in Min­danao specif­i­cally Davao, there is still a pos­i­tive feedback even after the oc­cur­rence of Mar­tial Law in Min­danao. High num­bers of in­vestors are still op­ti­mistic in putting fur­ther busi­nesses in Min­danao.

Ac­cord­ing to Jet Yu, Prime Philip­pines founder and manag­ing director, the sur­vey cat­e­go­rized the in­vestors in three groups: The Davaobased in­vestors with present in­vest­ments in Davao said that 83.3 per­cent is still will­ing to in­vest in Davao; the Lu­zon and Visayas-based in­vestors who are cur­rently in­vest­ing in Davao with 60 per­cent­age: and the Lu­zon and Visayas-based in­vestors with­out zero prop­erty of in­vest­ment in Davao with 33.3 per­cent.

Ef­forts of the ad­min­is­tra­tion in re­build­ing Min­danao con­tin­ues to cre­ate pos­i­tive out­come to the Min­danaons like high em­ploy­ment rate. Davao Re­gion em­ploy­ment rate reached to 94.1 per­cent as of Jan­uary 2017 ac­cord­ing to the re­cent La­bor Force Sur­vey that was an­nounced by the Philip­pine Statis­tics Au­thor­ity.

For the whole of Min­danao, Socc­sksar­gen and the Au­ton­o­mous Re­gion of Mus­lim Min­danao logged the high­est em­ploy­ment rate with 95.7 per­cent.

It is now the time to erase bad im­pres­sions about Min­danao and start to make marks in eco­nomic growth just like Lu­zon and Visayas. With rich re­sources, Min­danao can do it too.

With new op­por­tu­ni­ties opened for Min­danao, it will also open de­vel­op­ment in the is­land that would be ben­e­fi­cial for every­one. It is time to change and re­move all mis­con­cep­tions about Min­danao be­cause, in the end, only Filipinos can help Philip­pines to be­come pros­per­ous and eco­nom­i­cally sta­ble.

It is now the time to erase bad im­pres­sions about Min­danao and start to make marks in eco­nomic growth just like Lu­zon and Visayas

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