The Mindanao Development Forum 2024 opened on Wednesday, bringing together stakeholders from various sectors to discuss and collaborate on sustainable socioeconomic development strategies for Mindanao.
In his speech during the opening ceremonies, Mindanao Development Authority (MinDA) Secretary Leo Tereso Magno highlighted the forum’s importance for the region and emphasized the significant progress made in various areas.
“We are encouraged by the focus on agricultural development, support for local industries, strategic infrastructure expansion, economic recovery, and improvements in socioeconomic services. Mindanao is benefiting greatly from the conducive macroeconomic environment we are currently enjoying,” he said.
Magno also expressed confidence in Mindanao’s readiness to play a broader role in achieving food security, peace, trade, commerce, investment, and prosperity.
“With the national government’s support in implementing high-impact projects, we can transform Mindanao into a hub of prosperity and innovation, contributing to the nation’s overall growth,” he said.
Magno also bared that another crucial partnership that President Ferdinand Marcos Jr. is fully supporting is the re-invigoration of the BIMP-EAGA (Brunei Darussalam, Indonesia, Malaysia, and the Philippines – East ASEAN Growth Area).
“The President said that by working together, we can harness the full potential of this cross-border cooperation to benefit, especially BARMM and Mindanao,” he added.
Magno further noted that the increase in the Republic of Korea’s contribution from USD 1 million in 2021 to USD 4 million in 2023 through the BIMP-EAGA-Korea Cooperation Fund (BKCF) enabled various Mindanao proponents to pursue projects in agribusiness, tourism, and clean energy.
“BIMP-EAGA is not just a key player but a leader in the global agricultural landscape. The sub-region boasts the world’s largest concentration of major tropical tree crops, including rubber, coconut, coffee, cocoa, pineapple, palm oil, and banana,” he said.
He pointed out that BIMP-EAGA has been successful in attracting major projects. In 2010, a dozen projects amounting to over USD 1 billion were realized, and 129 priority infrastructure projects are currently at USD 38 billion. (PNA)
