Connect with us

Hi, what are you looking for?

Economy

Mindanao bats for P1.35-T allocation in 2022 budget

The Mindanao Development Authority is hoping to get a P1.35-trillion allocation in the 2022 national budget. — COURTESY OF DEPARTMENT OF PUBLIC WORKS AND HIGHWAYS

By Marifi S. Jara, Mindanao Bureau Chief

THE MINDANAO Development Authority (MinDA) will push for a P1.35-trillion allocation in the 2022 national budget, representing 27% of the proposed P5-trillion spending plan, to realize major infrastructure and other projects.

“Mindanao has been getting a share that is lower than expected. In the last four years and a half, our highest share was last year at 16%. For 2021, Mindanao will only be getting 12%,” MinDA Chair Emmanuel F. Piñol said during the Mindanao Speaks Up forum on Wednesday.

The P1.35-trillion amount was originally put forward by MinDA in 2018 for allocation over a four-year period beginning 2019.

“We have always been labeled as the ‘Land of Promise,’ but unfortunately, Mindanao has always been getting the least budget,” said Abdulghani Ajul Salapuddin, chair of the government-owned and -controlled corporation Southern Philippines Development Authority and a former congressman.

“I had been in Congress for nine years, and we fought so hard for an equitable share, and by equitable, it does not mean equal but what is needed and just (for Mindanao’s development),” Mr. Salapuddin said.

Among the planned major projects that have yet to get off the ground are the Mindanao Railway’s first segment, Samal-Davao bridge, and private-public partnerships for the expansion of airports in the main cities of Cagayan de Oro and Davao.

The six Regional Development Council heads of Mindanao also presented their respective lists of proposed projects, including those that are either pending or delayed.

Mindanao is composed of the regions of Zamboanga Peninsula (9), Northern Mindanao (10), Davao (11), Soccsksargen (12), Caraga (13), and the Bangsamoro Autonomous Region in Muslim Mindanao.

In 2019, Mindanao collectively accounted for 16.6% of the national output, based on the Philippine Statistics Authority’s rebased regional accounts. Davao and Northern Mindanao had the highest contributions at 4.6% and 4.5%, respectively.

ECOZONES
Meanwhile, the Philippine Economic Zone Authority (PEZA), which co-organized the forum, will also file a resolution asking President Rodrigo R. Duterte to declare idle public lands in the country’s south as areas for the development of special economic zones.

PEZA Director General Charito B. Plaza said this would be in line with the President’s Administrative Order No. 18 issued in 2019, which aims to fast-track countryside development through ecozones.

Ms. Plaza said different types of ecozones — such as food processing, agro-industrial, medicine, apparel, tourism, and information technology —  can be developed in Mindanao based on the available resources in the different regions.

There are currently 37 ecozones in Mindanao, with 17 in Davao, 10 in Northern Mindanao, eight in Soccsksargen, and one each in Zamboanga and Caraga. Of these, 12 are agro-industrial, 15 IT parks, eight manufacturing, and one tourism.

The PEZA head also said the plan is to develop these special investor areas as  “smart” and “green” hubs.

“Let us not be arrogant that our government can provide the jobs that our population needs… we need investors, we need capital and we are competing with the rest of the world who are giving incentives to investors,” Ms. Plaza said in mixed English and Visayan.

“In basketball terms, we are in the last two minutes of our first Mindanaon President’s term and we need to do our best to deliver for our fellow Filipinos and the Philippines,” she added.

Private sector representatives, including regional officers of the Philippine Chamber of Commerce and Industry, generally aired disappointment during the forum even as they reaffirmed continued support to the government’s programs.

Ruben A. Vegafria, Cagayan de Oro business chamber president, said, “The share of Mindanao on agriculture, transport and DICT (Department of Information and Communications Technology) are itself very depressing.”

Senator Juan Miguel F. Zubiri, who comes from the Mindanao province of Bukidnon, assured legislative support for next year’s budget and other resolutions put forward at the multi-stakeholder gathering. “It’s not too late,” Mr. Zubiri said.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Headline inflation stood at 4% in July, the government reported on Thursday. — PHILIPPINE STAR/ MICHAEL VARCAS PHILIPPINE INFLATION eased to a seven-month low...

Economy

ALL COMPANIES included in the Philippine Stock Exchange (PSE) indices will be required to raise their public float level to 20% by December 2022,...

Economy

THE PHILIPPINES should focus on diversifying its economy to produce high-quality jobs and more competitive products, according to the United Nations in the Philippines....

Economy

SAN Miguel Corp. (SMC) returned to profitability to finish the first half with a net income of P29.57 billion, reversing last year’s P3.99-billion loss,...

Economy

AYALA-LED AC Energy Corp. reported an attributable net income of P1.42 billion in the second quarter, down by 28% from P1.97 billion year on...

Economy

PLDT, Inc. saw its attributable net income for the second quarter grow 10.9% to P7.1 billion, as high demand for data and broadband continued....

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!