The National Development Co. (NDC) and the Investment and Capital Corp. of the Philippines (ICCP) have identified this city as one of the country’s prime locations for modern industrial development.
In a statement on Tuesday, NDC General Manager Undersecretary Antonilo Mauricio highlighted the city’s potential for “transformative” growth, including establishing a modern “smart” community, an Information Technology Park, and a World Trade Center-style complex.
“The country’s growth lies outside Metro Manila, which is already congested. I feel the vibrance of Cagayan de Oro City, ready for large-scale development,” he said.
Mauricio, along with ICCP board chairman Guillermo Luchangco, emphasized the city’s status as a key development hub, noting that it is the fourth-largest growth center in the Philippines, after Manila, Cebu, and Davao.
On Oct. 19, the NDC and ICCP signed a memorandum of agreement with Mayor Rolando Uy for a 31-hectare development project in the city.
The project, part of the ongoing development of the 400-hectare Pueblo de Oro property, has been in progress for the past 25 years. (PNA)
